ISIS PHARMACEUTICALS ANNOUNCES PUBLIC OFFERING OF ONE MILLION SHARES OF COMMON STOCK
ISIS PHARMACEUTICALS ANNOUNCES PUBLIC OFFERING OF ONE
MILLION SHARES OF COMMON STOCK
CARLSBAD, Calif., Dec. 5 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIP) announced today the public offering of one million shares of its common stock at $12.50 per share. (1,1500,000 shares of common stock if the underwriters' over-allotment option is exercised in full).
Of the one million shares being offered, 800,000 are being offered initially in the United States by an underwriting group managed by Lehman Brothers, PaineWebber Incorporated and Daiwa Securities America Inc., and 200,000 shares are being offered initially outside the United States by Lehman Brothers International, PaineWebber International and Daiwa Europe Limited.
The company plans to use the net proceeds of the offering for research and development, including preclinical and clinical testing, production of compounds, facilities expansion and other general corporate purposes.
Isis Pharmaceuticals, Inc., based in Northern San Diego County, is engaged in the research and development of a new class of pharmaceutical products based on antisense technology.
A copy of the prospectus may be obtained from the offices of Lehman Brothers, World Financial Center, American Express Tower, New York, N.Y. 10285 (in Europe, One Broadgate, London, England EC2M7HA); PaineWebber Incorporated, 1285 Avenue of the Americas, New York, N.Y. 10019; and Daiwa Securities America Inc., One World Financial Center, 200 Liberty Street, New York, N.Y. 10281.
/CONTACT: Yasunori Kaneko, M.D., of Isis Pharmaceuticals, 619-931-9200, or Anthony J. Russo, Ph.D. or Deborah J. Lawson of Noonan/Russo Communications, 212-979-9180 for Isis Pharmaceuticals/
(ISIP) CO: Isis Pharmaceuticals Inc. ST: California IN: MTC SU: OFR SM-KW -- NY030 -- 9573 12/05/91 10:18 EST