Aphton Corporation Prices $45.5 Million Common Stock Offering.Business Editors/Health/Medical Writers BIOWIRE2K MIAMI--(BUSINESS WIRE)--Feb. 27, 2004 Aphton Corporation (Nasdaq:APHT APHT Advance Physical Test ), announced today that it has priced an offering of 7,000,000 shares of common stock to the public for a total offering size of $45.5 million. The shares will be issued at $6.50 per share. The Company has granted the underwriters an option to purchase an additional 1,050,000 shares of common stock within 30 days after the offering to cover over-allotments. The Company intends to use 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). from the sale of the common stock to fund the continued clinical development of G17DT; for clinical and preclinical studies preclinical studies, n.pl a term used to describe research done before a clinical study. May be laboratory or epidemiologic research. for the Company's other product candidates, including monoclonal antibodies; for potential licenses and acquisitions of complementary products or technologies; and for working capital and other general corporate purposes. UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is acting as the sole book-running manager for the offering. Harris Nesbitt Gerard is acting as a co-manager for the offering. A shelf registration statement relating to the shares that the Company intends to sell has previously been filed with, and declared effective by, the Securities and Exchange Commission. This offering of common stock may be made only by means of a prospectus. Copies of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. relating to the offering may be obtained, when available, from: UBS Securities LLC, ECMG ECMG Enterprise Content Management Group (Houston, TX) Syndicate, 299 Park Avenue, 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 , NY 10171. This press release 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. Aphton Corporation is a biopharmaceutical company developing products using its innovative targeted immunotherapy technology for neutralizing hormones that participate in gastrointestinal system and reproductive system cancer and non-cancer diseases. Aphton has strategic alliances with Aventis Pasteur for treating gastrointestinal system and other cancers with G17DT in North America and Europe; GlaxoSmithKline for reproductive system cancer and non-cancer diseases worldwide. This news release contains forward-looking statements regarding expectations as to the completion, timing and size of the offering. A number of risks and uncertainties could cause actual events to differ from the Company's expectations indicated by these forward-looking statements. These risks include successful completion of the offering and other risks addressed in the Company's filings with the Securities and Exchange Commission, including but not limited to the Company's Form S-3 filed on December 24, 2003. |
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