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NEW YORK, Aug 4 (Reuters) - Stock of 3-Dimensional Pharmaceuticals Inc. climbed roughly 22 percent on Friday after the biotechnology company began trading on the Nasdaq. Stock of 3-Dimensional jumped to 18-5/16, up 3-5/16 from its offering price. The stock ranked among the leading percentage gainers on the technology-rich Nasdaq. Meanwhile, the Nasdaq composite index edged 0.01 percent higher to 3,760. 3-Dimensional, which offers technologies to accelerate the discovery process of drugs, had priced 5 million shares at $15 each, the top of its expected range. The company boosted its offering by 1 million common shares to 5 million, while keeping the price range steady at $13-$15 a share. The Exton, Pa.-based company raised $75 million through the deal with underwriters Bear Stearns, Chase H&Q and U.S. Bancorp Piper Jaffray. It plans to use the proceeds from the IPO for research and development, possible acquisitions of technologies or targets, expansion of its facilities and other general corporate and working capital purposes. The company has a market capitalisation of $351.6 million based on 19.2 million shares outstanding and its current stock price. | ||||||||||||||
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