Big overallotment exercised for CYTK:
>>SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--May 4, 2004--Cytokinetics, Incorporated (Nasdaq: CYTK - News) today announced that it has closed its initial public offering (IPO) of 7,935,000 shares of its common stock at an initial public offering price of $13.00 per share, which includes the exercise in full of the underwriters' option to purchase an additional 1,035,000 shares of common stock. The total gross proceeds of the IPO are approximately $103.2 million. The total net proceeds to Cytokinetics, before offering expenses and after deducting underwriting discounts and commissions, are approximately $95.9 million. Goldman, Sachs & Co. acted as book-runner and lead manager, and Credit Suisse First Boston, Pacific Growth Equities, LLC and Lazard acted as co-managers.
A final prospectus for the offering may be obtained from Goldman, Sachs & Co.'s prospectus department at 85 Broad Street, New York, New York 10004, by telephone at 212-902-1171 or by faxing a request to 212-902-9316.
About Cytokinetics
Cytokinetics is a leading biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule drugs that specifically target the cytoskeleton. The cytoskeleton is a complex biological infrastructure that plays a fundamental role within every human cell. Cytokinetics' focus on the cytoskeleton enables it to develop novel and potentially safer and more effective classes of drugs directed at treatments for cancer, cardiovascular disease, fungal diseases and other diseases. Cytokinetics has developed a cell biology driven approach and proprietary technologies to evaluate the function of many interacting proteins in the complex environment of the intact human cell. Cytokinetics employs the PUMA(TM) system and Cytometrix(TM) technologies to enable early identification and automated prioritization of compounds that are highly selective for their intended protein targets without other cellular effects, and are thereby less likely to give rise to clinical side effects. Cytokinetics and GlaxoSmithKline have entered into a strategic alliance to discover, develop and commercialize small molecule therapeutics targeting human mitotic kinesins for applications in the treatment of cancer and other diseases. GlaxoSmithKline is conducting Phase II clinical trials with SB-715992 and is expecting to initiate Phase I clinical trials in early 2004 for SB-743921, each a drug candidate that has emerged from the strategic alliance. Additional information about Cytokinetics can be obtained at www.cytokinetics.com.
On April 29, 2004, Cytokinetics announced the pricing of its initial public offering of 6,900,000 shares of its common stock at a price of $13.00 per share. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 29, 2004. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. <<
Cheers, Tuck |
