Human Genome Sciences, Inc. (Nasdaq: HGSI) today announced that it has
commenced an underwritten public offering of up to 12,500,000 shares of
its common stock. The Company intends to grant the underwriters a 30-day
option to purchase up to an additional 1,875,000 shares of the Company’s
common stock. The shares will be issued pursuant to a prospectus
supplement filed as part of a shelf registration statement previously
filed with the Securities and Exchange Commission on Form S-3.
The Company currently expects to use the net proceeds from this offering
for general corporate purposes, including acquisition of additional
manufacturing capacity and development of new indications for BENLYSTA™,
as well as potential sales and marketing activities, clinical trial,
research and development, general and administrative and manufacturing
expenses and the potential retirement of debt. We may also use a portion
of the proceeds for strategic investments. While we evaluate company,
product, technology and similar opportunities from time to time, we
currently have no material agreements or commitments with respect to any
such acquisition or investment.
Goldman, Sachs & Co. and Citigroup Global Markets Inc. are acting as
joint book-running managers for the offering.
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. This press release is being
issued pursuant to and in accordance with Rule 134 under the Securities
Act of 1933, as amended. The offering will be made only by means of a
prospectus, copies of which 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 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.