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Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: sjemmeri who wrote (4507)	10/28/2005 4:33:13 PM
From: keokalani'nui	Respond to of 4974

This may be all CYTK thought it needed to strenthen its bargaining position when it comes time to partner the myosin program, after P1. Cytokinetics Secures $75 Million Committed Equity Financing Facility Friday October 28, 4:18 pm ET SOUTH SAN FRANCISCO, Calif., Oct. 28 /PRNewswire-FirstCall/ -- Cytokinetics, Incorporated (Nasdaq: CYTK - News) announced today that it has entered into a Committed Equity Financing Facility (CEFF) with Kingsbridge Capital Limited, a private investment group, in which Kingsbridge has committed to provide up to $75 million of capital during the next three years through the purchase of newly-issued shares of Cytokinetics' common stock. Under the terms of the agreement, Cytokinetics will determine the exact timing and amount of any CEFF financings, subject to certain conditions. The CEFF allows Cytokinetics to raise capital, at its discretion, to support Cytokinetics' corporate, research and development activities. Certain details of the CEFF are as follows: -- For a period of three years, Cytokinetics can access up to $75 million from Kingsbridge in exchange for newly-issued shares of Cytokinetics' common stock. Cytokinetics may access the capital after the SEC declares effective the registration statement to be filed by Cytokinetics covering the resale of the shares of common stock issuable in connection with the CEFF and the shares of common stock underlying the warrant discussed below. -- Cytokinetics may access capital under the CEFF in tranches of up to the lesser of $15 million or 2.5% of Cytokinetics' market capitalization at the time of the draw down of such tranche, subject to certain conditions. Each tranche will be issued and priced over an eight-day pricing period. Kingsbridge will purchase shares of common stock pursuant to the CEFF at discounts ranging from 6% to 10% depending on the average market price of the common stock during the eight-day pricing period, provided that the minimum acceptable purchase price for any shares to be issued to Kingsbridge during the eight-day period is determined by the higher of $3.50 or 85% of Cytokinetics' share price the day before the commencement of each draw down. -- Throughout the term of the agreement, Kingsbridge is restricted from engaging in any shorting transaction of Cytokinetics' common stock. -- Cytokinetics is not obligated to utilize any of the $75 million available under the CEFF and there are no minimum commitments or minimum use penalties. The CEFF agreement does not contain any restrictions on Cytokinetics' operating activities, automatic pricing resets or minimum market volume restrictions. -- The agreement does not prohibit Cytokinetics from conducting additional debt or equity financing, other than financings similar to the CEFF. -- In connection with the CEFF, Cytokinetics issued a warrant to Kingsbridge to purchase up to 244,000 shares of common stock at an exercise price of $9.13 per share, which represents a 30% premium over the average of the closing bid prices of Cytokinetics' common stock during the 5 days preceding the signing of the agreement. The warrant will become exercisable after the six month anniversary of the date of the agreement. The warrant will remain exercisable, subject to certain exceptions, until five years after the date of the agreement. The securities issuable in connection with the CEFF and upon the exercise of the warrant issued to Kingsbridge have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration under the Securities Act of 1933 and applicable state securities laws or available exemptions from registration requirements. Cytokinetics has agreed to file a registration statement for the resale of the shares of common stock issuable in connection with the CEFF and the shares of common stock underlying the warrant within 60 days of the date of the agreement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

To: sjemmeri who wrote (4507)	10/30/2005 4:57:23 PM
From: scaram(o)uche	Respond to of 4974

Thanks, Steve. Looks like biovaxid (note the "id") is anti-idiotype......... accentia.net Join the crowd, Accentia. Underwriters got no guts.

To: sjemmeri who wrote (4507)	11/9/2005 3:28:29 PM
From: sjemmeri	Read Replies (1) \| Respond to of 4974

11/9/2005 CRXX CombinatoRx prices at low end of revised range CombinatoRx, which is developing medicines built from synergistic combinations of approved drugs, priced its IPO of 6 million shares at $7 on Wednesday morning. The pricing came in at the low end of the company's downwardly revised range of $7 to $9. CombinatoRx's original price range was $10 to $12. SG Cowen was the lead underwriter on the deal. The stock is expected to begin trading on the NASDAQ under the ticker CRXX later on Wednesday.