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Discovery Labs Announces Completion of $14.25 Million Public Offering
Date:5/15/2013

WARRINGTON, Pa., May 15, 2013 /PRNewswire/ -- Discovery Laboratories, Inc. (NASDAQ: DSCO) today announced that it has completed its previously announced public offering to sell an aggregate of 9.5 million shares of its common stock under Discovery Labs' previously filed registration statement that was declared effective by the Securities and Exchange Commission on June 21, 2011.  The offering remains subject to the underwriter's 30-day option to purchase up to an additional 1.425 million shares of common stock to cover over-allotments, if any.  Each share was issued and sold at a public offering price of $1.50 per share.

As a result of the offering, Discovery Labs has received net proceeds of approximately $13.2 million, after deducting underwriting discount and other estimated fees and expenses related to the offering.  The net proceeds will be used primarily to support the commercial introduction of SURFAXIN® drug product and the AFECTAIR® aerosol-conducting airway connector for infants, to advance the Company's AEROSURF® development program, as well as for general corporate purposes.

Stifel acted as the sole book-running manager for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Discovery Laboratories, Inc. nor shall there be any sale of the 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.  Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained at the Securities and Exchange Commission web site at http://www.sec.gov, or from Stifel, Nicolau
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SOURCE Discovery Laboratories, Inc.
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