WATERTOWN, Mass., Oct. 6 /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 the pricing of its public offering of
8,250,000 shares of its common stock at a price of $10.50 per share. The
gross proceeds, before discounts, commissions and expenses, of the public
offering will be $86,625,000. Panacos has also granted the underwriters of
the offering a 30-day over-allotment option to purchase an additional
1,237,500 shares of common stock. All of the shares are being sold by Panacos
pursuant to its two shelf registration statements previously filed with the
Securities and Exchange Commission. The offering is expected to close on
October 12, 2005.
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 final prospectus supplement and accompanying prospectuses
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 (Telephone number
631-274-8321), 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 maturation and virus fusion.
Except for the historical information contained herein, the 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 and uncertainties 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.
 back to top
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.
|
