Kosan BioSciences -- KOSN Message Board

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Biotech / Medical : Kosan BioSciences -- KOSN

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To: scaram(o)uche who wrote (603)	8/15/2005 7:18:33 PM
From: Extra Pale	of 933

Press Release Source: Kosan Biosciences Incorporated Kosan Announces Termination of Common Stock Offering Monday August 15, 6:59 pm ET HAYWARD, Calif., Aug. 15 /PRNewswire-FirstCall/ -- Kosan Biosciences Incorporated (Nasdaq: KOSN - News) announced today that in light of the decline in its share price after today's announcement regarding the NCI-sponsored 17-AAG and DMAG clinical trials, the Company and the underwriters have mutually agreed to terminate the previously announced offering of 4,500,000 shares of common stock. ADVERTISEMENT "We remain confident in our development plans for our Hsp90 inhibitors as potential treatments for cancer. We will aggressively work to resolve any issues raised in today's earlier announcement and provide additional information when it is available," commented Daniel V. Santi, M.D., Ph.D., Kosan's Chairman and Chief Executive Officer. "Closing the second quarter with $69 million in reserves and a $35 million credit line, we have considerable flexibility to pursue our development programs."

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