Human Genome Sciences Announces Proposed Public Offering of Co... ( ROCKVILLE Md. July 27 /- Huma...)

Human Genome Sciences Announces Proposed Public Offering of Common Stock

Date:7/27/2009

ROCKVILLE, Md., July 27 /PRNewswire/ -- Human Genome Sciences, Inc. (Nasdaq: HGSI) today announced that it has commenced an underwritten public offering of up to 18,000,000 shares of its common stock. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 2,700,000 shares of the Company's common stock. The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed with the Securities and Exchange Commission on Form S-3.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080416/HGSLOGO )

The Company intends to use net proceeds from the offering for general corporate purposes, including clinical trial, research and development, general and administrative and manufacturing expenses, as well as for potential sales and marketing activities. The Company may also use a portion of the proceeds for the potential acquisition of, or investment in, companies, products or technologies that complement our business. While the Company evaluates company, product, technology and similar opportunities from time to time, the Company currently has no material agreements or commitments with respect to any such acquisition or investment. The Company also may use a portion of the net proceeds to repay, repurchase or retire all or a portion of its 2 1/4% convertible subordinated notes due 2011 and 2 1/4% convertible subordinated notes due 2012.

Goldman, Sachs & Co. and Citigroup Global Markets Inc. are acting as joint book-running managers for the offering.

This announcement shall not constitute an offer to sell or the solicita
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Human Genome Sciences Announces Proposed Public Offering of Co...( ROCKVILLE Md. July 27 /- Huma...)