Portola Announces Pricing of Public Offering of Common Stock
17 Octobre 2013 - 2:32PM
Portola Pharmaceuticals, Inc. (Nasdaq:PTLA) announced today the
pricing of its underwritten public offering of 6,366,513 shares of
its common stock at a price to the public of $23.75 per share.
Portola is offering 4,457,710 shares of common stock, and certain
existing stockholders of Portola are offering 1,908,803 shares of
common stock. Portola will not receive any proceeds from the sale
of shares by the selling stockholders. In addition, the
underwriters of the offering have been granted a 30-day option to
purchase up to an additional 954,976 shares from Portola at the
public offering price. The offering is expected to close on October
22, 2013, subject to customary closing conditions.
Morgan Stanley and Credit Suisse are acting as the joint
book-running managers for the offering. Cowen and Company, William
Blair and Sanford C. Bernstein are acting as co-managers. This
offering will be made only by means of a prospectus, copies of
which may be obtained from the offices of Morgan Stanley & Co.
LLC, Attention: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, New York 10014, or by email at
prospectus@morganstanley.com or Credit Suisse Securities (USA) LLC,
Attention: Prospectus Department, One Madison Avenue, New York, New
York 10010, by email at newyork.prospectus@credit-suisse.com or by
toll-free call to (800) 221-1037.
A registration statement relating to these securities has been
filed with, and was declared effective by, the Securities and
Exchange Commission on October 16, 2013. 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 jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals is a biopharmaceutical company focused
on the development and commercialization of novel therapeutics in
the areas of thrombosis, other hematologic disorders and
inflammation. Portola's wholly-owned lead compound, Betrixaban, is
a novel, oral, once-daily Factor Xa inhibitor in Phase 3
development for extended-duration prophylaxis of a form of
thrombosis known as venous thromboembolism (VTE) in acute medically
ill patients. Currently, there is no anticoagulant approved for
extended-duration VTE prophylaxis in this population. Portola's
second lead development candidate, Andexanet alfa (PRT4445*), has
the potential to be the first universal antidote to reverse the
effects of Factor Xa inhibitors in patients who suffer an
uncontrolled bleeding episode or trauma, or who require emergency
surgery. Portola retains full, worldwide commercial rights to
Andexanet alfa. Portola's third product candidate, PRT2070, is an
orally available kinase inhibitor that uniquely inhibits two
validated tumor proliferation pathways -- spleen tyrosine kinase
(Syk) and janus kinase (JAK). It is currently being studied in
patients with genetically-defined hematologic cancers, as well as
for patients who have failed therapy due to relapse or acquired
mutations. Portola's fourth program is partnered with Biogen Idec
and is focused on the development of PRT2607, a selective Syk
inhibitor.
Forward-Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Such
statements include, but are not limited to, statements regarding
the completion of the offering. Risks that contribute to the
uncertain nature of the forward-looking statements include
uncertainties related to market conditions and the completion of
the public offering on the anticipated terms or at all. These and
other risks and uncertainties are described more fully in Portola's
filings with the Securities and Exchange Commission, including
without limitation its Registration Statement on Form S-1 (No.
333-191609), which was originally filed with the Securities and
Exchange Commission on October 7, 2013. All forward-looking
statements contained in this press release speak only as of the
date on which they were made. Portola undertakes no obligation to
update such statements to reflect events that occur or
circumstances that exist after the date on which they were
made.
*PRT4445 has a proposed International Nonproprietary Name (pINN)
of Andexanet alfa.
CONTACT: Investor Contact:
Alexandra Santos
Portola Pharmaceuticals
ir@portola.com
650.246.7239
Media Contact:
Joey Fleury
BrewLife
jfleury@brewlife.com
415.946.1090
Portola Pharmaceuticals (NASDAQ:PTLA)
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