SAN DIEGO, Jan. 26, 2012 (GLOBE NEWSWIRE) -- Trius
Therapeutics, Inc. (Nasdaq:TSRX) today announced the pricing
of an underwritten public offering of 8,600,000 shares of its
common stock at a price to the public of $5.25 per share. The
gross proceeds to Trius from this offering are expected to be
approximately $45.2 million, before deducting underwriting
discounts
and commissions and other estimated offering expenses payable
by Trius. The offering is expected to close on or about
January 31, 2012, subject to customary closing
conditions.
Citigroup and Piper Jaffray & Co. are acting as joint
book-running managers and Canaccord Genuity Inc. and
Ladenburg Thalmann & Co. Inc. are acting as co-managers in
the offering. Trius has granted the underwriters a 30-day
option to purchase up to an aggregate of 1,290,000 additional
shares of common stock. Trius anticipates using the net
proceeds from the offering for general corporate purposes,
including clinical trial and other research and development
expenses, capital expenditures, working capital and general
and administrative expenses.
The securities described above are being offered by Trius
pursuant to a shelf registration statement previously filed
with and declared effective by the Securities and Exchange
Commission (the "SEC") on September 15, 2011. A
preliminary prospectus supplement related to the offering has
been filed with the SEC and is available on the SEC's
website h a tt t p://www.sec.gov. Copies of the
final prospectus supplement and accompanying prospectus
relating to these securities may also be obtained, when
available, from Citigroup, Prospectus Department, Brooklyn
Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY
11220, at 1-800-831-9146 and at
batprospectusdept@citi.comor from Piper
Jaffray & Co., Attention: Prospectus Department,
800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via
telephone at 800-747-3924 or email at
prospectus@pjc.com. This press release shall not
constitute an offer to sell or the 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.
Trius Therapeutics, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibiotics for life-threatening infections. The company's lead investigational drug, tedizolid phosphate, is a once daily, IV and orally administered second generation oxazolidinone in Phase 3 clinical development for the treatment of ABSSSI. Trius has two Special Protocol Assessments with the FDA for its two Phase 3 ABSSSI trials and has partnered with Bayer HealthCare for the development and commercialization of tedizolid phosphate outside of the U.S., Canada and the European Union. In addition to the company's tedizolid phosphate clinical program, Trius has initiated IND-enabling studies for its Gyrase- B development candidate with potent activity against Gram-negative bacterial pathogens including multi-drug resistant strains of E. coli, Klebsiella, Acinetobacter and Pseudomonas. The Gyras-eB program is one of the three preclinical programs fully supported by federal contracts. For more information, visit www.triusrx.com.
Forward-Looking StatementsStatements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, Trius' expectations regarding the closing of the public offering and the expected gross proceeds therefrom. 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 offering, as well as risks and uncertainties associated with Trius' business and finances in general, and the other risks described in Trius' Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, and in the preliminary prospectus supplement related to the offering filed with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Trius undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
CONTACT: Public Relations Contact:
Jason Spark at Canale Communications, Inc.
jason@canalecomm.com
619-849-6005
Investor Relations Contact:
Stefan Loren at Westwicke Partners, LLC
sloren@westwicke.com
443-213-0507
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