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Biotech / Medical : Imclone systems (IMCL) -- Ignore unavailable to you. Want to Upgrade?

To: QuietWon who wrote (1102)	11/30/1999 12:15:00 PM
From: Greg Rich	Read Replies (1) \| Respond to of 2515

News... ImClone Systems Incorporated Raises anAdditional $12.4 Million Through Exercise of Over-Allotment Option November 30, 1999 07:34 AM NEW YORK--(BW HealthWire)--Nov. 30, 1999--ImClone Systems Incorporated IMCL announced that the underwriters of the Company's recent public offering have fully exercised their over-allotment option by purchasing 412,500 shares of Common Stock from the Company, at $32 per share. As a result, ImClone raised an additional $12.4 million in proceeds. Total net proceeds raised by ImClone Systems from the offering, including the exercise of the over-allotment option, amounted to $94.3 million, through the sale of a total of 3,162,500 shares. Morgan Stanley Dean Witter, Merrill Lynch & Co., Prudential Vector Healthcare Group, a unit of Prudential Securities, and Warburg Dillon Read LLC, served as managing underwriters for the offering. A copy of the final prospectus related to the offering can be obtained from Morgan Stanley Dean Witter at 1585 Broadway, New York, NY 10036, (212) 761-4000; Merrill Lynch, World Financial Center, North Tower, New York, NY 10281, (212) 449-1000; Prudential Vector Healthcare Group, 1751 Lake Cook Road, Deerfield, IL, (847) 940-1970; or Warburg Dillon Read LLC, 299 Park Avenue, New York, NY 10171, (212) 821-4000. ImClone Systems Incorporated, headquartered in New York, is a biopharmaceutical company engaged in the research and development of novel cancer treatments. The Company is currently pursuing three research and development programs that it believes show promise for treating cancer: growth factor inhibitors, cancer vaccines and angiogenesis inhibitors. Except for the historical information contained herein, the matters discussed in this news release may include forward-looking statements. Actual results may differ materially from those predicted in such forward-looking statements due to the risks and uncertainties inherent in the Company's business, including, without limitation, risks and uncertainties in obtaining and maintaining regulatory approval, market acceptance of and continuing demand for the Company's products, the impact of competitive products and pricing, and the Company's ability to obtain additional financing to support its operations. The Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. greg