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CELL GENESYS ANNOUNCES STOCK OFFERING OF 2,000,000 SHARES

 FOSTER CITY, Calif., Nov. 19 /PRNewswire/ -- Cell Genesys, Inc. (NASDAQ: CEGE) today announced that its follow-on offering of 2,000,000 newly-issued shares of common stock has been priced at $19 per share. The transaction is co-managed by CS First Boston, Invemed Associates, Inc. and Oppenheimer & Co. The company has granted the underwriters an option to purchase up to 300,000 additional shares to cover any overallotments.
 Proceeds to the company, which will be used primarily for continued expansion of its product development programs and related facilities, are expected to be approximately $35.4 million, exclusive of any overallotment sales. Following the offering announced today, the company has about 13.3 million shares of common stock outstanding.
 Cell Genesys is a leader in the application of gene targeting technology to the development of human therapeutic products. Gene targeting is a cellular genetic engineering technology which enables precise and permanent activation, inactivation and replacement of specific genes in living cells. The company is applying gene targeting and related technologies to develop products in three areas: universal cell transplant products, therapeutic protein products and human monoclonal antibody products.
 A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on Nov. 18. The offering of these securities is made only by the prospectus. A final prospectus relating to the Cell Genesys securities is available from CS First Boston (Attention: New Issues Processing), 55 East 52nd St., New York, N.Y., 10055, 212-909-2000; Imvemed Associates, Inc., 375 Park Avenue, Suite 2205, New York, N.Y., 10152, 212-421-2500; and Oppenheimer & Co., Inc., Oppenheimer Tower-World Financial Center, New York, N.Y. 10281, 212-667-7000.
 -0- 11/19/93
 /CONTACT: Stephen A. Sherwin, M.D., president and chief executive officer of Cell Genesys, Inc., 415-358-9600, ext. 212/
 (CEGE)


CO: Cell Genesys, Inc. ST: California IN: MTC SU: OFR

TM -- NY007 -- 6402 11/19/93 08:46 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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