WATERTOWN, Mass., Sept. 28 /PRNewswire-FirstCall/ -- Panacos
Pharmaceuticals, Inc. (Nasdaq: PANC) ("Panacos" or "the Company"), a
biotechnology company dedicated to developing the next generation of antiviral
therapeutic products, today announced that it has filed a preliminary
prospectus supplement to its two shelf registration statements with the
Securities and Exchange Commission relating to a proposed underwritten public
offering of eight million shares of its common stock. It is currently
anticipated that the underwriters will be granted an over-allotment option for
an additional 1.2 million shares of common stock. All of the shares are being
sold by Panacos.
SG Cowen & Co., LLC and Bear, Stearns & Co. Inc. are acting as joint book
runners for the offering. Acting as co-managers for the offering are Needham &
Company, LLC and Leerink Swann & Company.
These securities may not be sold nor may offers to buy be accepted prior
to the time that the prospectus supplement is final. This communication 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 offer of shares of common
stock may be made only by means of a prospectus, including a prospectus
supplement, forming a part of the Company's effective registration statements.
Copies of the preliminary prospectus supplement may be obtained from SG
Cowen & Co., LLC, Prospectus Department at ADP, 1155 Long Island, Edgewood,
New York 11717 (Telephone number (631) 254-7106), Bear, Stearns & Co. Inc.,
383 Madison Avenue, New York, NY 10167, Needham & Company, LLC, 445 Park
Avenue, New York, New York 10022 (Telephone number (212) 371-8300), and
Leerink Swann & Company, One Federal St., Boston, MA 02110 (Telephone number
(617) 918-4814).
About Panacos
Panacos is developing the next generation of anti-infective products
through discovery and development of small molecule oral drugs for the
treatment of HIV and other major human viral diseases. Panacos' proprietary
discovery technologies and lead therapeutic candidate PA-457 focus on novel
targets in the virus life cycle, including virus fusion and virus maturation.
Except for the historical information contained herein, statements made
herein are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These
statements involve risks as set forth in the Company's filings with the
Securities and Exchange Commission. These risks and uncertainties could cause
actual results to differ materially from any forward-looking statements made
herein.
CONTACT:
Jill Smith
Director, Corporate Communications
240.631.1395
jsmith@panacos.com
Peyton Marshall
Executive Vice President & CFO
617-926-1551
pmarshall@panacos.com
SOURCE Panacos Pharmaceuticals, Inc.
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Related links:
http://www.panacos.com
CONTACT:
Jill Smith, Director, Corporate
Communications, +1-240-631-1395, jsmith@panacos.com, or Peyton
Marshall, Executive Vice President & CFO, +1-617-926-1551,
pmarshall@panacos.com, both of Panacos Pharmaceuticals, Inc.
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