Alkermes announces public offering of 2 million shares of common stock.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 20, 1995--Alkermes Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALKS ALKS Alkermes, Inc. (stock symbol) ) announced today a public offering of 2 million shares of its common stock at a price of $7.00 per share. All 2 million shares are being offered by Alkermes. The offering is being managed by Robertson, Stephens & Co. L.P. and Cowen & Co. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering will be used for clinical trials, research and development and other general corporate purposes. Alkermes is an emerging drug delivery company focused on the development of products based on its sophisticated drug delivery technologies. These include RMP-7, a product candidate designed to facilitate drug delivery to the central nervous system, and product candidates based on the company's ProLease technology, which enables complex, fragile biopharmaceuticals to be delivered in sustained release formulations. RMP-7 is currently being tested in three multi-center Phase II clinical trials in combination with the chemotherapeutic agent chemotherapeutic agent An agent used to treat CA, administered in 'regimens'-one or more 'cycles' that combine 3 or more agents over wks; CAs are toxic to any cell with a high rate of proliferation–the CA itself, the GI tract–causing N&V, carboplatin in patients with primary brain tumor primary brain tumor Neurology A tumor that arises in the brain–eg, ependymoma, astrocytoma grade 3 or 4, glioblastoma multiforme, glioma, medulloblastoma, meningioma, neuroglioma, oligodendroglioma. See Metastatic brain tumor. . ProLease product candidates are being developed in collaboration with several large pharmaceutical companies. A prospectus relating to these securities may be obtained from Robertson, Stephens & Co. L.P. at 555 California St., Suite 2600, San Francisco, Calif. 94104, 415/781-9700 or Cowen & Co., Financial Square, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. 10005-3597, 212/495-6000. RMP-7 is being developed by Alkermes for Alkermes Clinical Partners L.P., a limited partnership which raised $46 million in 1992 to develop RMPs. Alkermes has the option to purchase the partnership's technology. CONTACT: Alkermes Inc. Michael J. Landine, 617/494-0171 or Pearson Communications Thomas A. Pearson, 610/995-9730 or Burns McClellan Clarence Swearngan Jr., 212/505-1919 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion