NEWTOWN, Pa., April 3 /PRNewswire/ -- CollaGenex Pharmaceuticals, Inc.
(Nasdaq: CGPI) announced today the public offering of 1,000,000 shares of its
common stock at a price of $12.50 per share.  All of these shares are being
issued and sold by the Company.  A certain stockholder of the Company has
granted the Underwriter a 30-day option to purchase up to 150,000 additional
shares to cover overallotments, if any.  Alex. Brown & Sons Incorporated is
the sole underwriter of this offering.
    Net proceeds to the Company from the sale of common stock will be used
primarily for marketing expenses associated with new product introduction, the
establishment of sales and marketing capabilities, pharmaceutical development
and other general corporate purposes, including working capital.
    CollaGenex Pharmaceuticals, Inc. is engaged in the development and
commercialization of innovative, proprietary medical therapies for the
treatment of periodontal disease and other pathologies.  The Company's core
technology involves inhibiting the activity of certain enzymes that destroy
the connective tissues of the body.
    A copy of the prospectus relating to this offering can be obtained from
Alex. Brown & Sons Incorporated, One South Street, Baltimore, Maryland  21202
(telephone: 410-727-1700).

Link to this page: