RNAI Sirna Therapeutics

SAN FRANCISCO, May 30 /PRNewswire-FirstCall/ -- Sirna Therapeutics, Inc. (NASDAQ:RNAI) announced today the exercise in full by the underwriters of an over-allotment option to purchase 1,350,000 shares of common stock in connection with its follow-on stock offering that priced on May 23, 2006. Including the over-allotment shares, the offering will total 10,350,000 shares at a public offering price of $5.00 per share, resulting in an aggregate public offering price of approximately $52 million and estimated net proceeds to the company of approximately $47 million. UBS Investment Bank and J.P. Morgan Securities Inc. are acting as joint bookrunning managers for the offering. Co-managers for the offering are CIBC World Markets, Leerink Swann & Company and Brean Murray, Carret & Co. A copy of the prospectus supplement relating to the offering may be obtained by contacting UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, New York 10171 (212-821-3000), or J.P. Morgan Securities Inc., Prospectus Department, 4 Chase Metrotech Center, CS Level, Brooklyn, New York 11245 (718-242-8002). This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. About Sirna Therapeutics Sirna Therapeutics is a clinical-stage biotechnology company developing RNAi-based therapies for serious diseases and conditions, including age-related macular degeneration, hepatitis B and C, dermatology, asthma, Huntington's disease, diabetes, and respiratory syncytial virus. Safe Harbor Statement Statements in this press release which are not strictly historical, including with respect to Sirna's proposed public offering, are "forward-looking" statements which should be considered as subject to many risks and uncertainties. You should consider the risk factors identified in the prospectus supplement and the accompanying prospectus, and in Sirna's Securities and Exchange Commission filings, including its Forms 10-K and 10-Q and in other SEC filings. Sirna undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. Contacts: Greg Weaver, SVP and Chief Financial Officer, Sirna Therapeutics, Inc., 415-512-7200 Rebecca Galler Robison, Senior Director, Corporate Strategy, Sirna Therapeutics, Inc., 303-449-6500 DATASOURCE: Sirna Therapeutics, Inc. CONTACT: Greg Weaver, SVP and Chief Financial Officer, +1-415-512-7200, or Rebecca Galler Robison, Senior Director, Corporate Strategy, +1-303-449-6500, both of Sirna Therapeutics, Inc. Web site: http://www.sirna.com/

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