Contact Information: CONTACT: James E. Fickenscher Chief Financial Officer Auxilium Pharmaceuticals, Inc. +1-484-321-5900 or William Q. Sargent Jr. Vice-President, Investor Relations and Corporate Communications +1-484-321-5900
Auxilium Pharmaceuticals Completes Sale of 3.45 Million Shares of Common Stock Resulting in $115.7 Million in Net Proceeds
| Source: Auxilium Pharmaceuticals, Inc.
MALVERN, PA--(Marketwire - October 1, 2009) - 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® 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™ (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.