SAN DIEGO, Feb. 17, 2015 /PRNewswire/ -- Neurocrine
Biosciences, Inc. (Nasdaq: NBIX) today announced that it has
commenced an underwritten public offering of shares of its common
stock to raise aggregate proceeds of approximately $225 million. In connection with this
offering, Neurocrine will also grant to the underwriters a 30-day
option to purchase up to an additional 15% of the number of shares
sold. J.P. Morgan Securities LLC and Deutsche Bank Securities Inc.
are acting as joint book-running managers for this offering.
The offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed or as to the actual size or terms of the offering.
Neurocrine anticipates using the net proceeds from the offering to
fund its research and development efforts, to prepare for
commercialization efforts and for general corporate purposes,
including working capital.
The securities described above are being offered by Neurocrine
pursuant to a shelf registration statement previously filed with
the Securities and Exchange Commission (the "SEC") on
February 25, 2014, which became
automatically effective by rule of the SEC upon filing. A
preliminary prospectus supplement and accompanying prospectus
relating to the offering have been filed with the SEC and
are available on the SEC's website at www.sec.gov. The offering
will be made only by means of the prospectus supplement and
accompanying prospectus, copies of which may be obtained (when
available) from J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at
866-803-9204, or from Deutsche Bank Securities Inc., Attention:
Prospectus Group, 60 Wall Street, New
York, NY 10005-2836, or by phone at 1-800-503-4611, or by
email at prospectus.CPDG@db.com. The final terms of the offering
will be disclosed in a final prospectus supplement to be filed with
the SEC.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in 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 Neurocrine Biosciences
Neurocrine Biosciences, Inc. discovers and develops innovative
and life-changing pharmaceuticals, in diseases with high unmet
medical needs, through its novel R&D platform, focused on
neurological and endocrine based diseases and disorders.
Neurocrine's two lead late-stage clinical programs are elagolix, a
gonadotropin-releasing hormone (GnRH) antagonist for women's health
that is partnered with AbbVie Inc., and a wholly owned vesicular
monoamine transporter 2 (VMAT2) inhibitor for the treatment of
movement disorders. Neurocrine intends to maintain certain
commercial rights to its VMAT2 inhibitor and evolve into a
fully-integrated pharmaceutical company.
In addition to historical facts, this press release contains
forward-looking statements that involve a number of risks and
uncertainties such as those, among others, relating to Neurocrine's
expectations regarding the completion, timing and size of its
proposed public offering. Among the factors that could
cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, as well as
risks and uncertainties associated with Neurocrine's business and
finances in general, and the other risks described in Neurocrine's
annual report on Form 10-K for the year ended December 31, 2014. Neurocrine undertakes no
obligation to update the statements contained in this press release
after the date hereof.
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SOURCE Neurocrine Biosciences, Inc.