SIBIA Neurosciences (SIBI) Message Board

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Biotech / Medical : SIBIA Neurosciences (SIBI)

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To: Biomaven who wrote (108)	11/6/1997 2:25:00 AM
From: Czechsinthemail	Read Replies (1) of 579

11/4/97 Sibia Neurosciences Files To Offer 2.5 Million Shares LA JOLLA, Calif. -(Dow Jones)- Sibia Neurosciences Inc. (SIBI) filed with the Securities and Exchange Commission to offer 2.5 million common shares. In a press release Tuesday, the company said it will offer 2.25 million shares and the Salk Institute for Biological Studies plans to sell the remaining 250,000 shares. Sibia plans to use the proceeds for further development of its drug discovery technologies and for preclinical and clinical development of drug candidates. After the offering, Sibia will have about 11.5 million shares outstanding. UBS Securities LLC is serving as lead underwriter for the offering. Piper Jaffray Inc. and Vector Securities International Inc. are serving as co-managers. SIBIA has granted the underwriters a 30-day over-allotment option to purchase up to 375,000 additional common shares. SIBIA Neurosciences is engaged in the discovery and development of novel small molecule therapeutics for the treatment of disorders of the nervous system.

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