FREMONT, Calif., June 9 /PRNewswire/ -- Abgenix, Inc. (Nasdaq: ABGX) today
announced that its Board of Directors has approved a two-for-one split of the
Company's outstanding shares of common stock.
The stock split will be effected in the form of a stock dividend and will
entitle each stockholder of record at the close of business on June 19, 2000,
to receive one share of common stock for every share of common stock held. The
stock dividends resulting from the stock split are expected to be distributed
by the transfer agent on July 7, 2000.
As of June 8, 2000, Abgenix had approximately 40.3 million shares
outstanding. Upon completion of the split, the number will increase to
approximately 80.6 million.
Abgenix is a biopharmaceutical company that develops and intends to
commercialize antibody therapies for the treatment of such conditions as
transplant-related diseases, inflammatory and autoimmune disorders,
cardiovascular disease, infectious diseases, and cancer. For more information
on Abgenix, visit the company's Web site at http://www.abgenix.com.
Abgenix developed XenoMouse(TM) technology to enable the rapid generation
of high affinity, fully human antibody product candidates 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 multiple
proprietary antibody product candidates under development internally, three of
which are in human clinical trials for graft-versus-host disease, psoriasis,
rheumatoid arthritis, and cancer.
Statements made in this press release about Abgenix's XenoMouse
technology, product development activities and collaborative arrangements
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. Please 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
Company News On-Call:
http://www.prnewswire.com/comp/126548.html or fax,
800-758-5804, ext. 126548
CONTACT:
Kurt Leutzinger, Chief Financial Officer of
Abgenix Inc., 510-608-6575
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