Secondary offering:
WALTHAM, Mass., Jan. 29 /PRNewswire/ -- GelTex Pharmaceuticals, Inc.
(Nasdaq: GELX) announced today that it has filed a registration statement with
the Securities and Exchange Commission relating to a public offering of
2,500,000 shares of Common Stock. Cowen & Company, CIBC Oppenheimer Corp.,
and Hambrecht & Quist LLC are the managing underwriters for the offering. The
Company has granted the underwriters an option to purchase an additional
375,000 shares to cover over-allotments. All of the shares are being offered
by GelTex.
The registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. 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, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such states. A copy of the
preliminary prospectus relating to the proposed offering may be obtained, when
available, by faxing a request to Cowen & Company, Financial Square, New York,
NY 10005, 212-425-5801, or by written request to CIBC Oppenheimer Corp., World
Financial Ctr., 200 Liberty Street, New York, NY 10281, 212-667-7000, or
Hambrecht & Quist LLC, 230 Park Avenue, New York, NY 10169, 212-207-1400.
GelTex is developing non-absorbed, polymer-based pharmaceuticals that
selectively bind to and eliminate target substances from the intestinal tract.
SOURCE GelTex Pharmaceuticals, Inc.
18% dilution.
I love these guys idea of treatments that don't even enter the
bloodstream but part of the reason I love it is I thought it wouild
be cheaper to develop...now i'm not so sure. |
