Cellegy Pharmaceuticals Announces Public Offering of Common Stock.FOSTER CITY, Calif.--(BW HealthWire)--Nov. 19, 1997--Cellegy Pharmaceuticals, 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 :CLGY) announced today the public offering of 1,750,000 shares of its common stock at $7.50 per share. Also effective today, the Company's shares are traded on the Nasdaq National Market. Cellegy is a pharmaceutical company engaged in the development of prescription drugs and cosmeceuticals to address a variety of diseases and conditions utilizing its patented transdermal and topical delivery technologies. Cellegy's first prescription drug, Glylorin(TM), is a novel treatment for certain forms of ichthyosis Ichthyosis Definition Derived from two Greek words meaning "fish" and "disease," ichthyosis is a congenital (meaning present at birth) dermatological (skin) disease that is represented by thick, scaly skin. , a family of incurable skin diseases. Glylorin has been licensed by Cellegy to Glaxo Wellcome Inc. and is currently in Phase III clinical trials in the United States. Cellegy is also evaluating several prescription drugs including a transdermal testosterone gel for the treatment of hypogonadism Hypogonadism Definition Hypogonadism is the condition more prevalent in males in which the production of sex hormones and germ cells are inadequate. , a condition that frequently results in lethargy and reduced libido in men over the age of 40. (The Company recently signed a legally binding letter of intent with Neptune Pharmaceutical Corporation to acquire Anogesic(R), a topical product candidate for the treatment of anal fissures and hemorrhoids hemorrhoids (hĕm`əroidz) or piles, dilatations of the veins about the anus (external hemorrhoids) or those higher up inside it (internal hemorrhoids). . Clinical studies of Anogesic have been completed on over 400 patients to date, and the Company plans to commence Phase III trials during 1998.) In addition to its prescription drugs, Cellegy is testing and developing a line of anti-wrinkling cosmeceutical cos·me·ceu·ti·cal n. A cosmetic that has or is purported to have medicinal properties. products which the Company believes will address the skin care needs of an affluent and aging population. CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company Oppenheimer Corp. acted as underwriter in connection with the offering. The underwriter has thirty days to exercise an over-allotment option for up to an additional 262,500 shares. A prospectus may be obtained from the offices of CIBC Oppenheimer Corp., CIBC Oppenheimer Tower, One Word Financial Center, 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 10281 (telephone 212/667-7000). CONTACT: Cellegy Pharmaceuticals Richard Juelis, 650/524-1600 |
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