Includes Up to 700,000 Shares to be Sold by Cell Genesys
FREMONT, Calif., Jan. 28 /PRNewswire/ -- Abgenix, Inc. (Nasdaq: ABGX)
today announced that it has filed a Registration Statement on Form S-1 with
the Securities and Exchange Commission.
The registration statement covers a proposed offering of up to
2,500,000 shares of common stock and includes up to 700,000 shares of common
stock to be sold by a selling stockholder, Cell Genesys, Inc. (Nasdaq: CEGE).
To the extent the underwriters sell more than 2,500,000 shares of common
stock, the underwriters have an option to purchase up to an additional
375,000 shares, of which 270,000 shares shall be from Abgenix and
105,000 shares shall be from the selling stockholder, Cell Genesys, Inc. The
offering will be managed by Robertson Stephens, Lehman Brothers Inc., Merrill
Lynch & Co. and Pacific Growth Equities, Inc.
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 these
securities in any state in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state. The offer is made only by the prospectus, a copy of which may
be obtained from Robertson Stephens, 555 California Street, Suite 2600,
San Francisco, CA 94104, 415-781-9700.
Abgenix is a biopharmaceutical company that develops and intends to
commercialize antibody therapeutic products for the treatment of a variety of
disease conditions, including transplant-related diseases, inflammatory and
autoimmune disorders, cardiovascular disease, infectious disease, and cancer.
Abgenix developed XenoMouse(TM), a proprietary technology to enable quick
generation of high affinity, fully human antibody product candidates that bind
to essentially any disease target appropriate for antibody therapy. Abgenix
has collaborative arrangements with multiple pharmaceutical and biotechnology
companies involving its XenoMouse technology. In addition, Abgenix has four
proprietary antibody product candidates under development internally, three of
which are in human clinical trials.
Statements made in this press release, other than statements of historical
fact, are forward looking statements and are subject to a number of
uncertainties that could cause actual results to differ materially from the
statements made, including risks associated with the success of clinical
trials, the progress of research and product development programs, the
regulatory approval process, competitive products, future capital requirements
and the extent and breadth of Abgenix's patent portfolio. See Abgenix's public
filings with the Securities and Exchange Commission for information about
risks that may affect Abgenix.
SOURCE Abgenix, Inc.
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Related links:
http://www.abgenix.com
CONTACT:
Kurt Leutzinger, Vice President and Chief
Financial Officer of Abgenix Inc., 510-608-6575
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