INHALE THERAPEUTIC SYSTEMS OFFERS COMMON STOCK.PALO ALTO, Calif.--(BUSINESS WIRE)--March 17, 1995--Inhale Therapeutic Systems (Nasdaq: INHL INHL Institute for Nursing Healthcare Leadership ) today announced the public offering of 1,000,000 shares of Common Stock, all of which are being sold by the Company at the price of $8.00 per share. Lehman Brothers and Volpe, Welty & Company are co-managers of the offering. 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). of the offering principally for developing and acquiring additional clinical and commercial production capacity and to fund research and development efforts. The remaining proceeds will be added to working capital, where such proceeds will be available to support general corporate purposes. Inhale is developing a pulmonary drug delivery system applicable to a wide range of peptides, proteins, and other macromolecules Macromolecules A large molecule composed of thousands of atoms. Mentioned in: Gene Therapy macromolecules currently delivered by injection for systemic and lung diseases. Inhale is designing its delivery system to integrate customized formulations and proprietary fine dry-powder processing and packaging with a proprietary inhalation device for efficient, reproducible deep-lung delivery of macromolecule macromolecule, term that may refer either to a crystal such as a diamond, in which the atoms are identical and held by covalent bonds (see chemical bond) of equal strength, or to one of the units that compose a polymer. drugs. Inhale is engaged in early-stage research, feasibility, and development collaborations with a number of pharmaceutical and biotechnology companies to develop therapeutic products using its pulmonary delivery system. Founded in July 1990, Inhale began trading as a public company in May 1994. A prospectus relating to these securities may be obtained when available by contacting the Syndicate Department at Lehman Brothers Inc., 3 World Financial Center, New York, New York 10285; or Volpe, Welty & Company, One Maritime Plaza One Maritime Plaza is an office tower located in San Francisco's Financial District near the Embarcadero Center towers on Clay and Front Streets. The building, completed in 1964, stands 121 m (398 feet) and has 27 floors of office space. , Suite 1100, San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] 94111. CONTACT: Inhale Therapeutic Systems Burns McClellan Ajit Gill Clarence Swearngan, Jr. Chief Financial Officer (investors) (415) 354-0700 (ext. 223) (212) 505-1919 Justin Jackson (media) (415) 399-4525 |
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