CYTL!!!!Only 5 million outstanding! AIDS VACINE Promise!Cytel Corporation Announces Reverse
Stock Split
SAN DIEGO--(BW HEALTHWIRE)--Nov. 5, 1998--Cytel Corporation (NASDAQ: CYTL -
news) announced today that the Company's Board of Directors has approved a one-for-seven
reverse split of the Company's Common Stock effective November 13, 1998.
The approval was pursuant to authority granted to the Board of Directors by the Company's
stockholders at a special meeting held on October 30, 1998.
All holders of Common Stock will receive one new share of Common Stock for every seven shares
of Common Stock held as of the effective date. The trading symbol for Cytel will be CYTLD for
the first twenty days after the reverse split takes effect. After the reverse split, Cytel will have
approximately 5 million shares of Common Stock outstanding. Registered stockholders as of the
close of trading on the effective date will receive written notice regarding the procedure for
exchanging their certificates.
Cytel has discovered cell adhesion inhibitors for treatment of acute and chronic inflammation and
manufactures bioactive carbohydrates for use in medical and consumer products. Epimmune Inc., its
subsidiary, is focused on the discovery and development of a new generation of safer, more potent
vaccines for the prevention and treatment of cancer and infectious diseases.
This press release includes forward-looking statements that reflect management's current views of
future events. Actual results may differ materially from the above forward-looking statements due to
a number of important factors, including but not limited to the risks associated with successfully
negotiating and completing definitive agreements for any corporate collaboration, the timing and cost
of conducting human clinical trials, the regulatory approval process, and the possibility that testing
may reveal undesirable and unintended side effects or other characteristics that may prevent or limit
the commercial use of proposed products. These factors are more fully discussed in Cytel's most
recent Forms 10-K and 10-Q.
Contact:
Edward C. Hall
Vice President, Finance and Chief Financial Officer
Cytel Corporation
(619) 450-7100
or
Media Contact:
Linda Seaton/Kelly Leggio
Mentus, Inc.
(619) 455-5500 ext. 133/ ext. 129
or
Investor Contact:
Timothy Scott
Mentus, Inc.
(619) 455-5500 ext. 132
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