SONUS PHARMACEUTICALS ANNOUNCES INITIAL PUBLIC OFFERING OF 2.85 MILLION SHARES
BOTHELL, Wash., Oct. 12 /PRNewswire/ -- SONUS Pharmaceuticals, Inc. (Nasdaq-NNM: SNUS SNUS Swedish National Union of Students ) today announced the initial public offering of 2,850,000 shares of Common Stock at a price of $7.00 per share. All of the shares are being offered by the Company. In addition, the Company and certain selling stockholders have granted the underwriters an option to purchase up to 427,500 additional shares of Common Stock to cover over-allotments, if any. Following the offering, the Company will have approximately 8,140,332 shares of Common Stock outstanding, assuming no exercise of the underwriters' over-allotment option. The initial public offering will be underwritten by Hambrecht & Quist LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control , Montgomery Securities and UBS UBS Union Bank of Switzerland
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SONUS Pharmaceuticals, Inc. is researching and developing proprietary contrast agents for use in ultrasound imaging. Ultrasound imaging is a widely used, non-invasive, cost-effective technique to examine soft tissues, internal body organs and blood flow in the body. In contrast to other imaging modalities, ultrasound imaging is currently largely performed without the use of a contrast agent. The Company's principal product under development, EchoGen(R) Emulsion, is a contrast agent designed to be administered to a patient prior to performing ultrasound studies to improve image quality. Based upon the Company's clinical trials to date involving more than 350 people, the Company believes that EchoGen will significantly improve the effectiveness of ultrasound imaging by increasing the reflective differential between the bloodstream carrying the contrast agent and the surrounding soft tissue being imaged.
EchoGen is a stable, liquid emulsion, based on the Company's proprietary PhaseShift(TM) technology, which changes from microscopic liquid droplets of dodecafluoropentane to gas microbubbles during administration. The Company believes EchoGen offers significant benefits as a contrast agent including (i) small bubble size which allows EchoGen to pass through capillaries in the lungs and other organs, (ii) a long half life which allows physicians sufficient time to complete an EchoGen-enhanced ultrasound study, and (iii) intensity of the sound wave reflectivity or echogenicity providing for better quality images.
Copies of the final prospectus relating to the offering may be obtained from Hambrecht & Quist LLC, One Bush Street, San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation).
The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] 94104, Telephone 415-376-3300; or Montgomery Securities, 600 Montgomery Street, San Francisco, California, Telephone, 415-627-2000; or UBS Securities Inc., 299 Park Avenue, New York, New York 10171, Telephone, 212-821-4000.
/CONTACT: Gregory Sessler of SONUS Pharmaceuticals, 206-487-9500/
CO: SONUS Pharmaceuticals Inc.; Hambrecht & Quist LLC; Montgomery
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