Dyax Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares
- Top 10 News for 12/02 - 12/06: Facebook Snubbed Again; Bitcoin Mania!; New Deal for Apple?
- U.S. Adds Jobs at Higher Clip in November, Unemployment Rate Falls to 7%
- Bitcoin Crashes 21%
- Unusual 11 Mid-Day Movers 12/06: (MBLX) (VIFL) (BLDP) Higher; (RALY) (ULTA) (SEAC) Lower
- Sears Holdings (SHLD) Files to Spin-Off Lands' End Unit
BURLINGTON, Mass.--(BUSINESS WIRE)-- Dyax Corp. (NASDAQ: DYAX) today announced that the underwriters of its previously announced public offering have exercised in full their option to purchase an additional 1,384,615 shares of the Company’s common stock at a price to the public of $6.50 per share, less customary underwriting discounts and commissions. The net proceeds of approximately $8.5 million from the exercise of the option brings the aggregate net proceeds from the offering to approximately $64.7 million, after deducting the underwriting discount and other estimated offering expenses payable by Dyax. The additional shares were delivered to the underwriters on October 18, 2013.
Jefferies LLC acted as the sole book-running manager and Cowen and Company, LLC, Leerink Swann LLC and Needham & Company, LLC acted as the co-managers for the offering.
As previously announced, Dyax intends to use the net proceeds from this offering to fund research and development activities, including the development of DX-2930, a therapeutic candidate for the prophylactic treatment of hereditary angioedema (HAE), and for general corporate purposes.
A registration statement relating to the shares of Dyax common stock being offered has been filed with, and declared effective by, the Securities and Exchange Commission (the “SEC”). A final prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and related prospectus may be obtained from Jefferies LLC, Attention: Syndicate Prospectus Department, 520 Madison Avenue, New York, NY, 10022, by telephone at 877-547-6340 or by email at Prospectus_Department@Jefferies.com.
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.
Dyax is a fully integrated biopharmaceutical company focused on the discovery, development and commercialization of novel biotherapeutics for unmet medical needs. The Company's key value drivers are the KALBITOR® (ecallantide) business, DX-2930 and the Licensing and Funded Research Program (LFRP).
For additional information about Dyax, please visit www.dyax.com.
For additional information about KALBITOR, including full prescribing information, please visit www.KALBITOR.com.
This press release contains forward-looking statements, including statements regarding the use of proceeds from Dyax’s sale of common stock, that involve a number of risks and uncertainties. Statements that are not historical facts are based on Dyax’s current expectations, beliefs and assumptions regarding its research and development activities. Important factors that could cause actual outcomes to differ materially from those indicated by these forward-looking statements include risks and uncertainties related to clinical development and others factors described in Dyax’s most recent Annual Report on Form 10-K for the year ended December 31, 2012. Dyax cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Dyax undertakes no obligations to update or revise these statements, except as may be required by law.
Dyax, the Dyax logo and KALBITOR are registered marks of Dyax Corp.
Dyax Corp.Jennifer Robinson, 617-250-5741Associate Director, Investor Relationsand Corporate Communicationsjrobinson@dyax.com
Source: Dyax Corp.
You May Also Be Interested In
- Dyax Corp. (DYAX) DX-2930 Receives FDA Orphan Drug Desgination
- Needham & Company Starts VOXX International (VOXX) at Buy
- Holidays Take Top Billing in New Legal & General Survey Results
Create E-mail Alert Related CategoriesPress Releases
Related EntitiesJefferies & Co, Needham & Company, Cowen & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!