SAN DIEGO, March 8, 2012 /PRNewswire/ -- Amylin
Pharmaceuticals, Inc. (Nasdaq: AMLN) today announced the pricing of
an underwritten public offering of 13,000,000 shares of its common
stock. The gross proceeds to Amylin from this offering are expected
to be approximately $203.1 million,
before deducting underwriting discounts and commissions and other
estimated offering expenses payable by Amylin. The offering is
expected to close on or about March 13,
2012, subject to customary closing conditions. Amylin has
also granted to the underwriter a 30-day option to purchase from it
up to an additional 1,950,000 shares of its common stock. Amylin
intends to use the net proceeds from this offering primarily for
expenses related to its commercialization of BYDUREON™ (exenatide
extended-release for injectable suspension), as well as for general
corporate purposes which may include research and development
expenses, capital expenditures, working capital and general
administrative expenses.
Credit Suisse Securities (USA)
LLC is acting as sole book-running manager and underwriter in this
offering.
A registration statement relating to the shares described above
was previously filed with and has become effective by rule of the
Securities and Exchange Commission (SEC). A final prospectus
supplement relating to the offering will be filed with the SEC and
will be available on the SEC's website at http://www.sec.gov.
Copies of the final prospectus supplement and related prospectus,
when available, may be obtained from Credit Suisse Securities
(USA) LLC, Attention: Prospectus
Department, One Madison Avenue, New York,
NY 10010, or by telephone at (800) 221-1037, or by e-mail at
newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
the shares in any state or other jurisdiction which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
About Amylin Pharmaceuticals
Amylin Pharmaceuticals is a biopharmaceutical company
dedicated to improving lives of patients through the discovery,
development and commercialization of innovative medicines. Amylin
is committed to delivering novel therapies that transform the way
diabetes and other metabolic disorders are treated. Amylin is
headquartered in San Diego, Calif.
and has a commercial manufacturing facility in Ohio.
This press release contains forward-looking statements about
Amylin and its public offering of common stock, including
statements regarding Amylin's expectations with respect to the
completion, timing and size of its offering, the expected gross
proceeds from the offering and its anticipated use of proceeds from
the offering, which involve risks and uncertainties. Actual results
could differ materially from those discussed or implied in this
press release due to a number of risks and uncertainties, including
risks associated with market conditions and the satisfaction of
customary closing conditions related to the proposed offering, as
well as risks that BYETTA® (exenatide) injection, SYMLIN®
(pramlintide acetate) injection or BYDUREON, and the revenues or
royalties generated from these products, may be affected by
competition, unexpected new data, safety and technical issues, or
manufacturing and supply issues; risks that our financial results
may fluctuate significantly from period to period and may not meet
market expectations; risks that any financial guidance we provide
may not be accurate; risks that our clinical trials will not be
completed when planned, may not replicate previous results, may not
be predictive of real world use or may not achieve desired
end-points; risks that our preclinical studies may not be
predictive; risks that our NDAs for product candidates or sNDAs for
label expansion requests, may not be submitted timely or receive
FDA approval; risks that the launch of BYDUREON will be
unsuccessful; risks that we will not be successful in our efforts
to expand the reach of our sales force or in our efforts to secure
an exenatide development and commercial partner outside the U.S.;
risks that our expense reductions will not be as large as we
expect; and other risks inherent in the drug development and
commercialization process. Commercial and government reimbursement
and pricing decisions and the pace of market acceptance may also
affect the potential for BYETTA, SYMLIN or BYDUREON. These and
additional risks and uncertainties are described more fully in the
Company's recently filed Annual Report on Form 10-K.
Amylin disclaims any obligation to update these
forward-looking statements.
SOURCE Amylin Pharmaceuticals, Inc.