Idenix Pharmaceuticals Announces Proposed Public Offering of Common Stock
01 August 2012 - 6:05AM
Idenix Pharmaceuticals, Inc. (Nasdaq:IDIX), a biopharmaceutical
company engaged in the discovery and development of drugs for the
treatment of human viral diseases, today announced that it has
commenced an underwritten registered public offering of $150
million of its common stock. All of these shares are being sold by
Idenix.
J.P. Morgan Securities LLC is acting as sole book-running
manager and Leerink Swann LLC is acting as lead manager for the
proposed offering. Idenix intends to grant the underwriters a
30-day option to purchase up to an additional 15 percent of the
amount sold to cover over-allotments, if any. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the final
size or terms of the offering.
Idenix intends to use the net proceeds from this offering for
general corporate purposes, which may include: research and
development expenditures relating to combination phase IIb clinical
trials of IDX184 with IDX719, proof-of-concept and phase IIa
clinical trials with IDX19368 in combination with ribavirin and
proof-of-concept clinical trials of one or more
nucleoside/nucleotide drug candidates; working capital; capital
expenditures; and potential acquisitions of new businesses,
technologies or products that Idenix believes complements or
expands its business.
The shares will be issued pursuant to an effective shelf
registration statement on Form S-3 filed today with the Securities
and Exchange Commission. Idenix will file with the Securities and
Exchange Commission a preliminary prospectus supplement with
respect to the offering.
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of Idenix, nor shall
there be any offer or sale of securities in any state or
jurisdiction in which an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Copies of the
preliminary prospectus supplement and accompanying prospectus may
be obtained from J.P. Morgan Securities LLC via Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or
by calling toll-free (866) 803-9204.
About Idenix
Idenix Pharmaceuticals, Inc., headquartered in Cambridge,
Massachusetts, is a biopharmaceutical company engaged in the
discovery and development of drugs for the treatment of human viral
diseases. Idenix's current focus is on the treatment of infections
caused by the hepatitis C virus.
CONTACT: Idenix Pharmaceuticals Contacts:
Kelly Barry (617) 995-9033 (media)
Daniella Beckman (617) 224-4471 (investors)
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