SOUTH SAN FRANCISCO, Calif., May 1 /PRNewswire-FirstCall/ -- Cell
Genesys, Inc. (Nasdaq: CEGE) today announced the filing of a new shelf
registration statement with the Securities and Exchange Commission (SEC)
pursuant to Rule 415 under the Securities Act of 1933, as amended. The new
shelf registration statement is being filed to replace the shelf
registration statement initially filed by the company on December 23, 2002,
which was fully utilized following the completion of a $60 million
registered direct offering on April 11, 2007. After the new registration
statement becomes effective, the company may periodically issue up to $150
million of securities at its discretion. The company expects from time to
time to use the net proceeds from potential future transactions carried out
under the shelf registration statement for general company purposes,
including research and development expenses and to provide financing as may
be needed from time to time for Phase 3 trials of the company's lead
product GVAX(TM) immunotherapy for prostate cancer. While the company does
not have any present intention to use the shelf registration statement
under current market conditions, the shelf registration statement is
intended to give Cell Genesys greater flexibility to take advantage of
favorable market conditions as they may arise and to complement funding
from potential corporate collaborations.
A registration statement on Form S-3 filed by Cell Genesys relating to
these securities was filed with the SEC but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. 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. Any offering may
be made only by means of prospectus and a related prospectus supplement. A
copy of the registration statement on Form S-3 filed by Cell Genesys may be
obtained at the SEC's website at http://www.sec.gov, at the company's
website at http://www.cellgenesys.com or from the company by contacting
investor relations at the phone number listed above or by submitting a
written request to the company at 500 Forbes Boulevard, South San
Francisco, California 94080.
Cell Genesys is focused on the development and commercialization of
novel biological therapies for patients with cancer. The company is
currently pursuing two clinical stage product platforms -- GVAX(TM) cancer
immunotherapies and oncolytic virus therapies. Ongoing clinical trials
include Phase 3 trials of GVAX immunotherapy for prostate cancer, Phase 2
trials of GVAX immunotherapies for pancreatic cancer and for leukemia, and
a Phase 1 trial of CG0070 oncolytic virus therapy for bladder cancer. Cell
Genesys continues to hold an equity interest in its former subsidiary,
Ceregene, Inc., which is developing gene therapies for neurodegenerative
disorders. Cell Genesys is headquartered in South San Francisco, CA and has
its principal manufacturing operation in Hayward, CA. For additional
information, please visit the company's website at
http://www.cellgenesys.com.
Statements made herein about the company, other than statements of
historical fact, including statements about the company's potential
financings and collaborations, results and timing of clinical trials and
preclinical programs, and the nature of product pipelines 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 and
research and development programs, the regulatory approval process for
clinical trials, competitive technologies and products, patents,
continuation and availability of corporate partnerships and the need for
additional financings. For information about these and other risks which
may affect Cell Genesys, please see the company's Annual Report on Form
10-K for the year ended December 31, 2006 filed on March 1, 2007 as well as
Cell Genesys' reports on Form 10-Q and 8-K and other reports filed from
time to time with the Securities and Exchange Commission. The company
assumes no obligation to update the forward-looking information in this
press release.
Statements made herein about the company, other than statements of
historical fact, including statements about the company's potential
financings and collaborations, results and timing of clinical trials and
preclinical programs, and the nature of product pipelines 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 and
research and development programs, the regulatory approval process for
clinical trials, competitive technologies and products, patents,
continuation and availability of corporate partnerships and the need for
additional financings. For information about these and other risks which
may affect Cell Genesys, please see the company's Annual Report on Form
10-K for the year ended December 31, 2006 filed on March 1, 2007 as well as
Cell Genesys' reports on Form 10-Q and 8-K and other reports filed from
time to time with the Securities and Exchange Commission. The company
assumes no obligation to update the forward-looking information in this
press release.
Contact: Ina Cu
Investor Relations
650-266-3200
SOURCE Cell Genesys, Inc.
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Related links:
http://www.cellgenesys.com
CONTACT:
Ina Cu, Investor Relations of Cell Genesys,
Inc., +1-650-266-3200
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