SUNNYVALE, Calif., June 22 /PRNewswire/ -- Scios Inc. (Nasdaq: SCIO)
announced today the completion of its public offering of 5,750,000 shares of
its common stock at a price of $21 per share, including the 750,000 share
over-allotment exercised by the underwriters. Net proceeds to Scios were
approximately $114 million. All of the shares were offered by Scios.
Proceeds from the offering will be used for operating costs, capital
expenditures and working capital needs, including costs associated with
Natrecor and research and development of other developmental products.
The managing underwriters for the offering were JPMorgan, Lehman Brothers
and SG Cowen Securities Corporation. Following the completion of the offering
today, 45.4 million shares of common stock are outstanding.
Scios is a biopharmaceutical company developing novel treatments for
cardiovascular and inflammatory disease. The Company's disease-based
technology platform integrates expertise in protein biology with computational
and medicinal chemistry to identify novel targets and rationally design small
molecule compounds for large markets with unmet medical needs.
Copies of the final prospectus supplement and accompanying prospectus
relating to the offering may be obtained by contacting JPMorgan, 1 Bush
Street, San Francisco, CA 94104, 415-439-3000; Lehman Brothers, 3 World
Financial Center, New York, NY 10285, 212-526-7000; or SG Cowen Securities
Corporation, 1 Financial Square, 27th Floor, New York, NY 10005, 212-495-6000.
SOURCE Scios Inc.
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Related links:
http://www.sciosinc.com
CONTACT:
Wendy Carhart of Scios Inc., 408-616-8325
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