NEW HAVEN, CT,Aug 29,2000/PRNewswire/ - Genaissance Pharmaceuticals, Inc. (Nasdaq: GNSC) today announced that the underwriters of its recent initial public offering of common stock have exercised in full their option to purchase from Genaissance an additional 900,000 shares at the initial public offering price of $13 per share. Net proceeds of the Company's initial public offering, including the exercise of the over-allotment, are $89.7 million.
After giving effect to the sale of the over-allotment shares, a total of 6,900,000 shares of common stock were offered and sold in the offering. Deutsche Banc Alex. Brown, Bear, Stearns & Co. Inc., Salomon Smith Barney and UBS Warburg LLC were the underwriters for the offering. Copies of the final prospectus may be obtained from Deutsche Banc Alex. Brown, Prospectus Department, One South Street, Baltimore, MD 21202.
Genaissance Pharmaceuticals is a leader in developing technology for applying population genomics and informatics to improve the development, marketing and prescribing of drugs. Genaissance discovers genomic markers that are predictive of which patients will respond effectively to a drug. The Company markets its technology to the pharmaceutical industry as a complete solution for developing "smarter" clinical trials and for improving the sales of existing drugs. The Genaissance solution combines informatics, proprietary genomic markers and an efficient procedure for analyzing clinical samples to correlate drug response with each patient's DNA. Genaissance is located in Science Park in New Haven, Connecticut. Additional information can be found at genaissance.com.
9/8/00 Briefing.com
10:16 ET Genaissance Pharma (GNSC) 23 13/16 +1 7/8 (+8.5%): Issue started with a BUY rating and $32 price target at Salomon Smith Barney. Firm served as a co-manager of GNSC's recent IPO.
Starting a new thread mostly because I'm interested in "local" biotechs in the New Haven area. This is another one along with VION, ALXN, CRGN, NRGN.
Jim |
