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BioMarin (BMRN) Stock Tumbles in After-Hours Trading on Public Offering

NEW YORK (TheStreet) -- Shares of BioMarin Pharmaceutical (BMRN) were falling in after-hours trading on Monday after announcing a public offering of 7.5 million shares of its common stock.

BioMarin has granted underwriters the option to purchase an additional 750,000 shares.

The company intends to use the proceeds from the offering for "general corporate purposes" such as clinical trials of its product candidates and the expansion of its manufacturing capacity, according to a...