Navigation Links
Pharmasset Announces Exercise of Underwriters' Overallotment Option
Date:1/24/2011

PRINCETON, N.J., Jan. 24, 2011 /PRNewswire/ -- Pharmasset, Inc. (Nasdaq: VRUS) announced today the underwriters of its recent underwritten public offering have exercised their option to purchase from Pharmasset an additional 495,000 shares of common stock. The net proceeds to Pharmasset after deducting the underwriting discount, from the sale of these additional shares are expected to be approximately $21.9 million. This brings the total expected net proceeds of the offering to Pharmasset, after deducting the underwriting discount and estimated offering expenses, to $123.4 million.  Citi is serving as sole book-running manager for the offering. Morgan Stanley & Co. Incorporated is serving as the co-lead manager, and BofA Merrill Lynch, Leerink Swann LLC and Wedbush PacGrow Life Sciences are serving as co-managers.

Pharmasset granted the option in connection with its previously announced underwritten public offering of 3,300,000 shares of common stock at an offering price of $46.33 per share, of which 1,000,000 shares were offered by the selling stockholders named in the prospectus supplement.  Pharmasset will not receive any proceeds from the sale of shares by the selling stockholders in the offering.  The offering is expected to close on January 26, 2011, subject to customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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. Copies of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Citi at Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Department, 800-831-9146.

About PharmassetPharmasset 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 C virus (HCV).ContactRichard E. T. Smith, Ph.D. VP, Investor Relations and Corporate Communicationsrichard.smith@pharmasset.com Office: +1 (609) 613-4181Forward-Looking StatementsPharmasset "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not historical facts, including, without limitation, statements regarding the net proceeds from the offering and the closing of the offering, are "forward-looking statements" that involve risks, uncertainties and other important factors, including, without limitation, the risk that adverse events could cause a delay of the closing of the offering, the termination of the offering or the cessation or delay of any of the ongoing or planned clinical trials and/or our development of our product candidates, the risk that we will be unable to apply the proceeds of the shares being sold by us in the offering as presently intended, the risk that the results of previously conducted studies involving our product candidates will not be repeated or observed in ongoing or future studies involving our product candidates, the risk that our collaboration with Roche will not continue or will not be successful, and the risk that any one or more of our product candidates will not be successfully developed and commercialized. For a discussion of risks, uncertainties and important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended September 30, 2010 filed with the Securities and Exchange Commission and discussions of potential risks, uncertainties and other important factors in our subsequent filings with the Securities and Exchange Commission.


'/>"/>

SOURCE Pharmasset, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Pharmasset Prices Public Offering of Common Stock
2. Pharmasset Announces Proposed Public Offering of Common Stock
3. Pharmasset Reports Positive Results from its HCV Clinical Programs
4. Pharmasset to Present at the 29th Annual J.P. Morgan Healthcare Conference
5. Pharmasset Initiates Exploratory Interferon Sparing Clinical Trial of PSI-7977 for Chronic Hepatitis C
6. Pharmasset to Webcast an Investor Event from the AASLD Meeting
7. Pharmasset to Present at the JMP Healthcare Conference
8. Pharmasset to Present at the UBS Global Life Sciences Conference
9. Pharmasset Initiates Phase 2b Clinical Trial of PSI-7977 for Chronic Hepatitis C Genotypes 1, 2, and 3
10. Pharmasset to Present at the 28th Annual JPMorgan Healthcare Conference
11. Pharmasset Reports Fiscal Year End 2009 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/8/2017)...  Diplomat Pharmacy, Inc. (NYSE: DPLO)., has completed its ... health care service center company based in ... relationship management programs for leading pharmaceutical manufacturers and health ... WRB will join Envoy Health Management, LLC , ... biotech firms, and other service companies. Together, WRB and ...
(Date:5/4/2017)... May 4, 2017  A recent study published ... Ultraviolet-C light as a means of disinfection ... to reduce bioburden on anesthesia workstations. In the ... high-touch, complex medical equipment surfaces contaminated with three ... "This study further validates the body of ...
(Date:5/4/2017)... 2017   BioLife Solutions , Inc. (NASDAQ: ... of proprietary clinical grade hypothermic storage and ... today announced that the Company,s first quarter 2017 financial ... May 11, 2017, and that the Company will host ... PT that afternoon. Management will provide an overview of ...
Breaking Medicine Technology:
(Date:5/23/2017)... ... May 23, 2017 , ... Therachat , a smart ... in an infographic on the current state of anxiety in support of National Mental ... was conducted in April 2017 and benchmarked general anxiety levels as well as identified ...
(Date:5/22/2017)... NC (PRWEB) , ... May 22, 2017 , ... ... Matthews Periodontics, is now welcoming new patients with periodontal plastic surgery treatments, including ... from a general dentist. Dr. Green provides these esthetic and functional procedures to ...
(Date:5/22/2017)... ... May 22, 2017 , ... Galena, Alaska, has a population of less ... headlines when it was targeted to build a nuclear plant by the TOSHIBA Corporation. ... manager Marvin L. Yoder describes the journey to get power to his small town, ...
(Date:5/21/2017)... (PRWEB) , ... May 19, 2017 , ... Chris Cornell, 52, was found dead on ... why one of the most respected lead singers in the rock industry would take his ... of mental illness. FindaTopDoc investigates how mental illness played a role in the death of ...
(Date:5/21/2017)... PARK, FL (PRWEB) , ... May 20, 2017 , ... ... sell it, find it, review it, and share its attributes like never before. More ... dispensary directory to connect cannabis enthusiasts to stores, strains, products – and for the ...
Breaking Medicine News(10 mins):