Human Genome Sciences, Inc. (Nasdaq:HGSI) today announced the pricing of
its underwritten public offering of 15,500,000 newly issued shares of
its common stock at a price to the public of $26.75 per share. The size
of the offering was increased from the originally announced 12,500,000
shares. The Company also granted the underwriters a 30-day option to
purchase up to an additional 2,325,000 shares of the Company’s common
stock. The offering is expected to close on December 8, 2009, subject to
customary closing conditions. The Company anticipates net proceeds from
the offering of approximately $397 million.
Goldman, Sachs & Co. and Citigroup Global Markets Inc. are acting as
joint book-running managers for the offering.
The shares will be issued pursuant to an effective shelf registration
statement. This announcement shall not constitute an offer to sell or
the solicitation of an offer to buy any securities of Human Genome
Sciences, Inc., nor shall there be any sale of securities 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 such state or jurisdiction. When available, a copy of the
prospectus supplement and accompanying prospectus relating to the
offering may be obtained from Goldman, Sachs & Co., at 85 Broad Street,
New York, New York 10004, Attention: Prospectus Department, Toll-Free
1-866-471-2526, or by email at prospectus-ny@ny.email.gs.com
and Citigroup Global Markets Inc. at Brooklyn Army Terminal, 140 58th
Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Department,
Toll-Free 1-800-831-9146.
About Human Genome Sciences
Human Genome Sciences is a commercially focused biopharmaceutical
company. In the first half of 2009, HGS achieved its first product
revenues when the Company delivered raxibacumab (ABthrax™) to the U.S.
Strategic National Stockpile for the treatment of inhalation anthrax.
HGS has two other products in late-stage clinical development: ZALBIN™
(formerly Albuferon®) for chronic hepatitis C and BENLYSTATM
(formerly LymphoStat-B®) for systemic lupus erythematosus.
For more information about HGS, please visit the Company’s web site at www.hgsi.com.
Health professionals and patients interested in clinical trials of HGS
products may inquire via e-mail to medinfo@hgsi.com
or by calling HGS at (877) 822-8472.
HGS, Human Genome Sciences, ABthrax, Albuferon, BENLYSTA, and ZALBIN are
trademarks of Human Genome Sciences, Inc.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements are based on Human Genome Sciences’ current
intent, belief and expectations. These statements are not guarantees of
future performance and are subject to certain risks and uncertainties
that are difficult to predict. Actual results may differ materially from
these forward-looking statements because of Human Genome Sciences’
unproven business model, its dependence on new technologies, the
uncertainty and timing of clinical trials, Human Genome Sciences’
ability to develop and commercialize products, its dependence on
collaborators for services and revenue, its substantial indebtedness and
lease obligations, its changing requirements and costs associated with
facilities, intense competition, the uncertainty of patent and
intellectual property protection, Human Genome Sciences’ dependence on
key management and key suppliers, the uncertainty of regulation of
products, the impact of future alliances or transactions and other risks
described in the Company’s filings with the SEC. Existing and
prospective investors are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of today’s date. Human
Genome Sciences undertakes no obligation to update or revise the
information contained in this announcement whether as a result of new
information, future events or circumstances or otherwise.