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CEPHALON FILES FOR PROPOSED PUBLIC OFFERING

 WEST CHESTER, Pa., Jan. 10 /PRNewswire/ -- Cephalon, Inc. (NASDAQ: CEPH) announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 3,000,000 shares of common stock. All of the shares will be sold by the company.
 The offering is being managed by Cowen & Company, Hambrecht & Quist Incorporated and Robertson Stephens & Company.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
 Copies of the preliminary prospectus relating to the offering may be obtained from Cowen & Company, Financial Square, New York, NY 10005, 212-495-8923; Hambrecht & Quist Incorporated, One Bush Street, San Francisco, CA 94104, 415-576-3300; and Robertson Stephens & Company, 555 California Street, San Francisco, CA 94104, 415-781-9700.
 Cephalon is a leader in the discovery and development of products to treat neurological diseases and disorders. The company's principal focus is on neurodegenerative diseases such as amyotrophic lateral sclerosis (Lou Gehrig's disease), peripheral neuropathies, Alzheimer's disease, head and spinal cord injury, and stroke.
 -0- 1/10/94
 /CONTACT: Lyn Hyduke of Cephalon, Inc., 215-344-0200/
 (CEPH)


CO: Cephalon, Inc. ST: Pennsylvania IN: MTC SU: OFR

TM -- NY005 -- 0421 01/10/94 08:54 EST
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Publication:PR Newswire
Date:Jan 10, 1994
Words:283
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