(Source: Business Wire)
Incyte Corporation (Nasdaq:INCY) today announced the pricing of its
underwritten public offering of 18,000,000 shares of its common stock at
a price to the public of $6.75 per share. The offering is expected to
close on September 30, 2009, subject to customary closing conditions.
Incyte also granted the underwriters a 30-day option to purchase an
additional 2,700,000 shares of common stock. All of the shares are being
offered by the Company.
The Company intends to use the net proceeds of this offering for general
corporate purposes, including research and development activities.
Goldman, Sachs & Co. is acting as sole book-running manager of this
offering. Morgan Stanley & Co. Incorporated and J.P. Morgan Securities
Inc. are acting as co-managers.
The shares are being issued pursuant to an effective shelf registration
statement. Printed copies of the prospectus supplement and related
prospectus relating to the offering may be obtained, when available,
from Goldman, Sachs & Co. (Attn: Prospectus Department, 85 Broad Street,
New York, New York 10004, Telephone: 1-866-471-2526, Fax: 212-902-9316
or Email at prospectus-ny@ny.email.gs.com).
This press release does not and shall not constitute an offer to sell or
the solicitation of an offer to buy the Company's common stock, nor
shall there be any sale of the common stock in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any state.
This offering is being made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective shelf
registration statement.
About Incyte
Incyte Corporation is a Wilmington, Delaware-based drug discovery and
development company focused on developing proprietary small molecule
drugs for oncology, inflammation and diabetes. Incyte's most advanced
compound, INCB18424, is in Phase III development for myelofibrosis.
Forward-Looking Statements
Except for the historical information contained herein, the matters set
forth in this press release, including statements with respect to the
intended use of net proceeds from the offering, are all forward-looking
statements within the meaning of the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that may cause actual
results to differ materially, including satisfaction of the conditions
to closing of the offering, the risks associated with drug research and
development and clinical trials, unanticipated costs in research and
development efforts or other unanticipated cash requirements, and other
risks detailed from time to time in Incyte's filings with the Securities
and Exchange Commission, including its Quarterly Report on Form 10-Q for
the quarter ended June 30, 2009. Incyte disclaims any intent or
obligation to update these forward-looking statements.
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