LEXINGTON, Mass.--(BUSINESS WIRE)--
Synageva BioPharma Corp. ("Synageva") (NASDAQ:GEVA), a clinical
stage biopharmaceutical company developing therapeutic products for rare
disorders, today announced that it has commenced a $80 million
underwritten public offering of shares of its common stock. In
connection with this offering, Synageva expects to grant to the
underwriters a 30-day option to purchase additional shares of common
stock, equal to up to 15% of the number of shares of common stock sold
in the offering. Morgan Stanley and J.P. Morgan are acting as joint
book-running managers in the offering, and Cowen and Company is acting
as co-manager in the offering.
The securities described above are being offered by Synageva pursuant to
a Form S-3 shelf registration statement (including a base prospectus)
previously filed with the Securities and Exchange Commission ("SEC").
Before you invest, you should read the prospectus in the registration
statement and related prospectus supplement that Synageva has filed with
the SEC for more complete information about Synageva and this offering.
The preliminary prospectus supplement is available for free by visiting
EDGAR on the SEC's website located at www.sec.gov.
Copies of the preliminary prospectus supplement and accompanying
prospectus may also be obtained from the offices of Morgan Stanley & Co.
LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn:
Prospectus Department, by calling toll-free (866) 718 1649 or by email
or from the offices of J.P. Morgan Securities LLC via Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by
calling toll-free (866) 803-9204.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor will 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 other jurisdiction.
About Synageva BioPharma Corp.
Synageva is a clinical stage biopharmaceutical company focused on the
discovery, development, and commercialization of therapeutic products
for patients with life-threatening rare diseases and unmet medical need.
Synageva has several protein therapeutics in its drug development
pipeline. The company has assembled a team with a proven record of
bringing therapies to patients with rare diseases.
This news release contains "forward-looking statements" under the
provisions of the Private Securities Litigation Reform Act of 1995. Such
statements can be identified by introductory words such as "expects,"
"plans," "intends," "believes," "will," "estimates," "forecasts,"
"projects," or words of similar meaning and by the fact that they do not
relate strictly to historical or current facts. Many factors may cause
actual results to differ materially from forward-looking statements,
including inaccurate assumptions and a broad variety of risks and
uncertainties, some of which are known, including those identified under
the heading "Risk Factors" in the Company's prospectus supplement filed
with the Securities and Exchange Commission (the "SEC") on January 3,
2013, and other filings Synageva periodically makes with the SEC and
others of which are not. Synageva cannot be sure when or if it will be
permitted by regulatory agencies to undertake additional clinical trials
or to commence any particular phase of clinical trials or how quickly
patient enrollment in clinical trials will occur. In addition, early
clinical results are not necessarily predictive of results that may be
achieved from subsequent clinical trials. Because of this, statements
regarding the expected timing of clinical trials or ultimate regulatory
approval cannot be regarded as actual predictions of when Synageva will
obtain regulatory approval for any phase of clinical trials or when it
will obtain ultimate regulatory approval by a particular regulatory
agency or when any of its drug product candidates might be
commercialized. Synageva's future financial results may differ from
those currently anticipated due to a number of factors, including
unanticipated costs in its research and development programs,
fluctuations in royalty revenues and unplanned costs associated with
maintaining and enforcing patents and other patent-related costs. No
forward-looking statement is a guarantee of future results or events,
and investors should avoid placing undue reliance on such statements.
Synageva undertakes no obligation to update any forward-looking
statements, whether as a result of new information, future events or
"Dedicated to Rare Diseases®" is a registered trademark and "Synageva
BioPharma™" is a trademark of Synageva BioPharma Corp.
Matthew Osborne, 781-357-9947
Source: Synageva BioPharma Corp.
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