SAN DIEGO, Feb. 19, 2015 /PRNewswire/ -- Neurocrine
Biosciences, Inc. (Nasdaq: NBIX) today announced the pricing of its
underwritten public offering of 6,944,000 shares of its common
stock at a price to the public of $36.00 per share. The gross proceeds to
Neurocrine from this offering, before deducting underwriting
discounts and commissions and other estimated offering expenses
payable by Neurocrine, are expected to be approximately
$250 million. The offering is
expected to close on or about February 24,
2015, subject to customary closing conditions. Neurocrine
anticipates using the net proceeds from the offering to fund its
research and development efforts, to prepare for commercialization
efforts and for general corporate purposes, including working
capital.
J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are
acting as joint book-running managers for this offering, Jefferies
LLC and Barclays Capital Inc. are acting as co-lead managers for
this offering and Cowen and Company, LLC and Nomura Securities
International, Inc. are acting as co-managers for this offering.
Neurocrine has granted the underwriters a 30-day option to purchase
up to an aggregate of 1,041,600 additional shares of common
stock.
The securities described above are being offered by Neurocrine
pursuant to a shelf registration statement previously filed with
the Securities and Exchange Commission (the "SEC") on
February 25, 2014, which became
automatically effective by rule of the SEC upon filing.
A preliminary prospectus supplement and accompanying
prospectus relating to the offering have been filed with
the SEC and are available on the SEC's website at
www.sec.gov, and a final prospectus supplement relating to the
offering will be filed with the SEC. The offering is being
conducted only by means of the prospectus supplement and
accompanying prospectus, copies of which may be obtained (when
available) from J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at
866-803-9204, or from Deutsche Bank Securities Inc., Attention:
Prospectus Group, 60 Wall Street, New
York, NY 10005-2836, or by phone at 1-800-503-4611, or by
email at prospectus.CPDG@db.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc. discovers and develops innovative
and life-changing pharmaceuticals, in diseases with high unmet
medical needs, through its novel R&D platform, focused on
neurological and endocrine based diseases and disorders.
Neurocrine's two lead late-stage clinical programs are elagolix, a
gonadotropin-releasing hormone (GnRH) antagonist for women's health
that is partnered with AbbVie Inc., and a wholly owned vesicular
monoamine transporter 2 (VMAT2) inhibitor for the treatment of
movement disorders. Neurocrine intends to maintain certain
commercial rights to its VMAT2 inhibitor and evolve into a
fully-integrated pharmaceutical company.
In addition to historical facts, this press release contains
forward-looking statements that involve a number of risks and
uncertainties such as those, among others, relating to Neurocrine's
expectations regarding the completion, timing and size of its
public offering and the expected proceeds therefrom.
Among the factors that could cause actual results to differ
materially from those indicated in the forward-looking statements
are risks and uncertainties associated with market conditions and
the satisfaction of customary closing conditions related to the
offering, as well as risks and uncertainties associated with
Neurocrine's business and finances in general, and the other risks
described in Neurocrine's annual report on Form 10-K for the year
ended December 31, 2014.
Neurocrine undertakes no obligation to update the statements
contained in this press release after the date hereof.
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SOURCE Neurocrine Biosciences, Inc.