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Biotech / Medical : Biotechnology Value Fund, L.P.
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To: scaram(o)uche who wrote (3802)3/10/2004 8:30:04 PM
From: tuckRead Replies (1) of 4974
 
>>SAN DIEGO, March 10 /PRNewswire-FirstCall/ -- Discovery Partners International, Inc. (Nasdaq: DPII - News) today announced that it has filed with the United States Securities and Exchange Commission a registration statement on Form S-3 for a proposed public offering of 7,222,000 shares of its common stock. All of the shares are being offered by Axys Pharmaceuticals, Inc., a stockholder of Discovery Partners. Discovery Partners has granted to the underwriters an option to purchase from it up to an additional 1,083,330 shares to cover over-allotments.<<

snip

And DPII doesn't get diddly unless the overallotment is exercised. Expect the stock to get whacked tomorrow. The winner? Celera, which now owns Axys.

Cheers, Tuck
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