Idenix Pharmaceuticals Prices Public Offering of Common Stock
August 02 2012 - 9:22AM
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 the pricing of
an underwritten registered public offering of 22,000,000 shares of
its common stock at a public offering price of $8.00 per share. All
of the shares are being sold by Idenix. The offering is expected to
close on August 7, 2012, subject to customary closing conditions.
J.P. Morgan Securities LLC is acting as sole book-running
manager, Leerink Swann LLC is acting as lead manager and BofA
Merrill Lynch and William Blair & Company, L.L.C. are acting as
co-managers for the offering. Idenix intends to grant the
underwriters a 30-day option to purchase up to 3,300,000 additional
shares of common stock to cover over-allotments, if any.
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;
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 automatic shelf
registration statement on Form S-3 previously filed with the
Securities and Exchange Commission. A preliminary prospectus
supplement related to the offering has been filed with the
Securities and Exchange Commission. A final prospectus supplement
related to the offering will be filed with the Securities and
Exchange Commission.
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
final prospectus supplement, when available, 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.
MTS Securities, LLC provided financial advisory services to
Idenix.
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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