Navigation Links
Pharmasset's Underwriters Release Shares from Lock-Up
Date:10/16/2007

PRINCETON, N.J., Oct. 16 /PRNewswire-FirstCall/ -- Pharmasset, Inc. (Nasdaq: VRUS) announced today the early termination by its Underwriters of the lock-up letter agreements that were executed in conjunction with the initial public offering of Pharmasset's common stock. The termination of transfer and sale restrictions set forth in the agreements will be effective on October 19, 2007. The lock-up agreements cover an aggregate of approximately 16 million shares of Pharmasset common stock.

Upon the termination of the lock-up agreements, these shares will be available for sale subject to any resale restrictions of the federal securities laws, including, in some instances, the limitations of Rule 144 or 701 under the Securities Act of 1933, as amended. Pharmasset completed its initial public offering of 5,000,000 shares of common stock on May 2, 2007 at a public offering price of $9.00 per share.

About Pharmasset

Pharmasset is a clinical-stage pharmaceutical company committed to discovering, developing and commercializing novel drugs to treat viral infections. Pharmasset's primary focus is on the development of oral therapeutics for the treatment of hepatitis B virus (HBV), hepatitis C virus (HCV) and human immunodeficiency virus (HIV).

Pharmasset is currently developing three product candidates. Clevudine, for the treatment of chronic HBV infection, is in Phase 3 clinical trials for registration in the Americas and Europe. Clevudine is already approved for HBV in South Korea and marketed by Bukwang Pharmaceuticals in South Korea under the brand name Levovir. R7128, an oral treatment for chronic HCV infection, is in a 28-day Phase 1 clinical trial in combination with Pegasys(R) and Copegus(R) through a strategic collaboration with Roche. Racivir, which is being developed for the treatment of HIV in combination with other approved HIV drugs, has completed a Phase 2 clinical trial.

Pegasys(R) and Copegus(R) are registered trademarks of Roche.

Contact

Alan Roemer, Vice President

Investor Relations & Corporate Communications

alan.roemer@pharmasset.com

Office: (609) 613-4125

Forward-Looking Statements

Pharmasset "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties, including without limitation the risk that the early termination of transfer and sale restrictions set forth in the lock-up letter agreements will be not become effective on October 19, 2007, the risk that the on-going or anticipated clinical trials for any one or more of our product candidates will not be successful or that any one or more of our product candidates will not be successfully developed and commercialized. For a discussion of these risks and uncertainties, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2007 filed with the Securities and Exchange Commission entitled "Risk Factors" and discussions of potential risks and uncertainties in our subsequent filings with the Securities and Exchange Commission.


'/>"/>
SOURCE Pharmasset, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Sweet corn releases antioxidants on cooking
2. Stents That Release Medication To Check Artery Narrowing
3. NABH Health accreditations final draft to be released by this month
4. Students Seek Help From Prisoners for Kidnapped Childs Release
5. Indian National in Saudi Jail will be released soon
6. Single Dose Of Extended Release Metformin Found To Be Effective In Type 2 Diabetes
7. An International Growth Standard For Childs Releases By WHO
8. Infection-Induced Amputation On Diabetic Foot – Study Release
9. New Guidelines Released for Patients Suffering from Heart Disease
10. AIIMS medical Superintendent confirms that salary release has not been permitted
11. Controversy Over Release Of Salaries Of Striking AIIMS Doctors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/21/2017)... ... 2017 , ... SABRE is raising awareness about personal safety with a Chicago ... November. , The Chicago, Illinois, based self-defense brand has been waiting for an opportunity ... of taking their personal safety into their own hands. , The ads focus on ...
(Date:9/21/2017)... ... September 21, 2017 , ... ... of a new member survey conducted by the International Society of Hair ... from 2014 to 2016 rose 60 percent, with 635,189 procedures performed in 2016. ...
(Date:9/21/2017)... , ... September 21, 2017 , ... ... right or exercise more try taking a more holistic approach and use natural ... new Amazon essential oil collection is certified USDA guaranteeing that, the new line ...
(Date:9/21/2017)... Illinois (PRWEB) , ... September 21, 2017 , ... ... technology company developing low-cost and highly accurate cancer screening tests, has received two ... dramatic improvements in cancer survival rates. , Preora has been named ...
(Date:9/21/2017)... ... ... the fitness brand that specializes in problem solving fitness accessories, has brought their practical ... their FlipBelt Crops. , The new fitness bottoms feature an integrated FlipBelt fitness belt ... on the trail, or on-the-go. , “We always thought the FlipBelt could be so ...
Breaking Medicine News(10 mins):
(Date:9/7/2017)... Caris Life Sciences, a leading innovator ... of precision medicine, today announced results from two ... molecular profiling approach in guiding therapeutic strategies in ... (CGP+) with Caris Molecular Intelligence ® to ... level, leading to more therapeutic options and improved ...
(Date:9/7/2017)... --  BioLife Solutions , Inc. (NASDAQ: BLFS ), ... cell and tissue hypothermic storage and cryopreservation ... President and CEO, will be presenting at two investment conferences ... 19 th Annual Global Investment Conference on Tuesday, September ... The conference is being held at the New York Palace ...
(Date:9/6/2017)... --  PDI , a leader in infection prevention products ... session focused on the role of chlorhexidine gluconate (CHG) ... 2017 Annual Scientific Meeting of the Association for Vascular ... Phoenix Convention Center in ... also feature PDI,s Prevantics® Device Swab as ...
Breaking Medicine Technology: