BIOCHEM PHARMA ISSUES STATEMENT ON STOCK ACTIVITY
BIOCHEM PHARMA ISSUES STATEMENT ON STOCK ACTIVITY LAVAL, Quebec, April 29 /PRNewswire/ -- BioChem Pharma Inc.
(NASDAQ: BCHXF) today announced it is aware of no reason related to its business that would explain the unusual activity in the company's share price. BioChem confirms its intention to proceed with its proposed public offering of up to 3.5 million common shares.
The public offering will be underwritten in the United States by a syndicate of underwriters led by Morgan Stanley & Co. Incorporated and Tucker Anthony Incorporated and outside the United States by Kleinwort Benson Limited and Morgan Stanley International and a syndicate of banks. The underwriters plan to offer the shares in late May 1992. Copies of the preliminary prospectus relating to the U.S. offering may be obtained from Morgan Stanley & Co. Incorporated, 1251 Avenue of the Americas, New York, NY 10020, and Tucker Anthony Incorporated, One World Financial Center, 200 Liberty St., 3rd floor, New York, NY 10281. Copies of the preliminary prospectus relating to the U.K. and European offering may be obtained from Kleinwort Benson Limited, 20 Fenchurch St., London EC3P 3DB, to the attention: Nigel Brassard. BioChem Pharma Inc. is engaged in the research and development of therapeutic products and the research, development, manufacturing and marketing of vaccine and diagnostic products for a broad range of infectious and other diseases. The company's shares are listed on the Montreal and Toronto stock exchanges (BCH) and on the NASDAQ stock market (BCHXF). In addition, following discussions with the London Stock Exchange, the company expects its common shares to be listed following the offering. A registration statement relating to these shares has been filed with the Securities and Exchange Commission but has not yet become effective. These shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The shares will not be offered for sale to the public in Canada. This news 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 or solicitation of sale would be unlawful prior to registration or qualification under the securities laws of any such state. -0- 4/29/92 /CONTACT: Francesco Bellini of BioChem Pharma, 514-681-1744/ (BCHXF) CO: BioChem Pharma Inc. ST: Quebec IN: MTC SU:
TQ-GK -- NY068 -- 4497 04/29/92 15:00 EDT
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|Date:||Apr 29, 1992|
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