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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Rocketman who wrote (5654)	9/24/1998 11:18:00 AM
From: Vector1	Read Replies (1) \| Respond to of 9719

from the ICOS S3 The shares will be registered Sept 30 - Shares Eligible for Future Sale. Sales in the public market of substantial amounts of the Company's Common Stock, including the sale of the Shares offered hereby, or the perception that such sales could occur, could depress prevailing market prices of the Common Stock. As of September 15, 1998, the Company had 40,020,822 shares of Common Stock outstanding. In addition to the up to 7,550,600 shares of Common Stock that may be offered and sold hereby by the Selling Stockholders following the exercise of certain warrants, as of September 15, 1998 the Company had granted options to purchase 6,488,955 shares of Common Stock. See "Selling Stockholders." Such warrants and options generally have an exercise price that is substantially below the prevailing market price of the Common Stock as of September 15, 1998, and the exercise of such warrants and options and prompt resale of the Common Stock received may result in downward pressure on the price of the Common Stock. The Company is also obligated to issue in June 1999 additional warrants to purchase up to an aggregate of approximately 7,600,000 shares of Common Stock at an exercise price to be determined at the time but expected to be a 25% premium to the then-prevailing market price of the Common Stock. The existence of the currently outstanding warrants and options to purchase Common Stock, and the obligation to issue such additional warrants, may negatively affect the Company's ability to complete future equity financings at prices and on terms acceptable to the Company.