Tularik Inc. said Friday that it priced a public offering of 4 million shares, which will net the company about $25.7 million and be used for advancing its products.

Tularik, of South San Francisco, is focused on developing therapeutics impacting gene expression in the areas of cancer, immunology and metabolic diseases.

Goldman, Sachs & Co., of New York, is acting as underwriter, and all of the shares are being offered by Tularik under a shelf registration statement.

As of Sept. 30, Tularik had $178 million in cash, cash equivalents and marketable securities, including $21 million attributable to Tularik's majority-owned subsidiary, Cumbre Inc. Tularik had about 50.7 million weighted shares outstanding.

The company reported a net loss of $22.9 million for the third quarter.

Tularik's pipeline includes three drug candidates in clinical trials. T67 is about to enter a pivotal Phase II/III study for the treatment of hepatocellular carcinoma, the company said in August. (See BioWorld Today, Aug. 28, 2002.)

T607 is in four Phase II trials for the treatment of hepatocellular carcinoma, non-Hodgkin's lymphoma, ovarian cancer and gastric cancer.

T487, for the treatment of inflammatory diseases, is in a Phase I trial involving 30 patients in the UK to evaluate safety.

In June, Tularik dropped the development of two compounds - T611 for cytomegalovirus and the anticancer drug T64. The company said at the time that although T64 showed some promise against non-small-cell lung cancer, the indication is competitive. T64 was licensed from Eli Lilly and Co., of Indianapolis, for $3 million. At the same time, the company entered a deal with Sankyo Company Ltd. to investigate therapeutics that act on orphan G protein-coupled receptors. (See BioWorld Today, June 12, 2002.)

Tularik's stock (NASDAQ:TLRK) fell 71 cents Friday to close at $6.80.