MALVERN, PA, Oct 01, 2009 (MARKETWIRE via COMTEX) -- Auxilium Pharmaceuticals, Inc. (NASDAQ: AUXL) announced today that
it has closed its previously announced public offering of 3,000,000
shares of its common stock at a price of $34.50 per share. On
September 29, 2009, Jefferies & Company, acting as the sole
book-running manager of the offering, exercised in full its
over-allotment option to purchase an additional 450,000 shares of
common stock. The exercise of the option increased the size of the
offering to an aggregate of 3,450,000 shares of common stock.
Auxilium received proceeds, net of offering expenses and underwriting
discounts and commissions, of approximately $115.7 million. Auxilium
offered the shares of its common stock sold in the offering pursuant
to a Registration Statement on Form S-3 (Reg. No. 333-133477) filed
with the Securities and Exchange Commission on August 27, 2007 and
declared effective on September 19, 2007.
Auxilium expects to use the net proceeds from the sale of the shares
of its common stock sold in the offering for general corporate
purposes, including working capital, product development and capital
expenditures.
Copies of the final prospectus supplement and related prospectus may
be obtained from Jefferies & Company, Inc., Attention: Syndicate
Prospectus Department, 520 Madison Avenue, New York, NY 10022 or at
(888) 449-2342.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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 jurisdiction.
About Auxilium
Auxilium Pharmaceuticals, Inc. is a specialty biopharmaceutical
company with a focus on developing and marketing to urologists,
endocrinologists, orthopedists and select primary care physicians.
Auxilium markets Testim(R) 1%, a topical testosterone gel, for the
treatment of hypogonadism through its approximately 190-person sales
and marketing team. Auxilium has five projects in clinical
development. XIAFLEX(TM) (collagenase clostridium histolyticum),
formerly referred to as AA4500, has completed phase III clinical
trials for the treatment of Dupuytren's contracture, and the
biologics license application is under review at the FDA for the
treatment of Dupuytren's contracture. XIAFLEX is in phase IIb of
development for the treatment of Peyronie's disease and is in phase
II of development for treatment of Frozen Shoulder syndrome (Adhesive
Capsulitis). Auxilium's transmucosal film product candidate for the
treatment of overactive bladder (AA4010) and its fentanyl pain
product using its transmucosal delivery system are in phase I of
development. The Company is currently seeking a partner to further
develop these product candidates. Auxilium has rights to additional
pain products and products for hormone replacement and urologic
disease using its transmucosal film delivery system. Auxilium also
has options to all indications using XIAFLEX for non-topical
formulations.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995
This release contains "forward-looking-statements" within the meaning
of The Private Securities Litigation Reform Act of 1995, including
statements regarding the Company's use of the net proceeds from the
offering and the impact thereof on the Company's growth; products in
development for Peyronie's disease, Frozen Shoulder syndrome,
overactive bladder, pain, hormone replacement and urologic disease;
and all other statements containing projections, statements of future
performance or expectations, our beliefs or statements of plans or
objectives for future operations (including statements of assumption
underlying or relating to any of the foregoing). Forward-looking
statements can generally be identified by words such as "believe,"
"appears," "may," "could," "will," "estimate," "continue,"
"anticipate," "intend," "should," "plan," "expect," and other words
and terms of similar meaning in connection with any discussion of
projections, future performance or expectations, beliefs, plans or
objectives for future operations (including statements of assumption
underlying or relating to any of the foregoing). Actual results may
differ materially from those reflected in these forward-looking
statements due to various factors, including further evaluation of
clinical data, results of clinical trials, decisions by regulatory
authorities as to whether and when to approve drug applications, and
general financial, economic, regulatory and political conditions
affecting the biotechnology and pharmaceutical industries and those
discussed in Auxilium's Annual Report on Form 10-K for the year ended
December 31, 2008 and in Auxilium's Quarterly Report on Form 10-Q for
the period ended June 30, 2009 under the heading "Risk Factors,"
which are on file with the Securities and Exchange Commission (the
"SEC") and may be accessed electronically by means of the SEC's home
page. There may be additional risks that Auxilium does not presently
know or that Auxilium currently believes are immaterial which could
also cause actual results to differ from those contained in the
forward-looking statements. Given these risks and uncertainties, any
or all of these forward-looking statements may prove to be incorrect.
Therefore, you should not rely on any such factors or forward-looking
statements.
In addition, forward-looking statements provide Auxilium's
expectations, plans or forecasts of future events and views as of the
date of this release. Auxilium anticipates that subsequent events and
developments will cause Auxilium's assessments to change. However,
while Auxilium may elect to update these forward-looking statements
at some point in the future, Auxilium specifically disclaims any
obligation to do so. These forward-looking statements should not be
relied upon as representing Auxilium's assessments as of any date
subsequent to the date of this release.
CONTACT:
James E. Fickenscher
Chief Financial Officer
Auxilium Pharmaceuticals, Inc.
+1-484-321-5900
Email Contact
or
William Q. Sargent Jr.
Vice-President, Investor Relations and Corporate Communications
+1-484-321-5900
Email Contact
SOURCE: Auxilium Pharmaceuticals, Inc.