Navigation Links
Savient Pharmaceuticals Announces Closing of Public Offering and Exercise of Over-Allotment Option

EAST BRUNSWICK, N.J., Oct. 15 /PRNewswire-FirstCall/ -- Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) announced today the closing of its previously announced underwritten public offering. Prior to closing, the underwriters exercised in full their option to purchase an additional 645,000 shares of common stock. As a result, Savient sold a total of 4,945,000 shares of its common stock at a price to the public of $13.29 per share. After underwriting discounts and commissions and estimated offering expenses, Savient received net proceeds of approximately $60.9 million. These shares were sold pursuant to Savient's existing shelf registration statement, the prospectus contained therein and the prospectus supplement as filed with the Securities Exchange Commission.

Savient intends to use the net proceeds from this offering to complete its effort to seek FDA approval of KRYSTEXXA(TM) (pegloticase), to develop a program of regulatory filings and review of KRYSTEXXA in other countries, to engage a global secondary source supplier and a secondary fill and finish manufacturer for pegloticase, and for working capital and other general corporate purposes.

J.P. Morgan Securities Inc. acted as sole book-running manager of the offering, with Wedbush PacGrow Life Sciences as lead manager and Lazard Capital Markets as co-manager. Copies of the final prospectus supplement and accompanying prospectus may be obtained by contacting J.P. Morgan Securities Inc., Attention: Prospectus Department, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245.

This press release does 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 is not permitted.


Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing KRYSTEXXA(TM) (pegloticase) for the treatment of chronic gout in patients refractory to conventional therapy. Savient has exclusively licensed worldwide rights to the technology related to KRYSTEXXA, formerly referred to as Puricase(R), from Duke University and Mountain View Pharmaceuticals, Inc. Savient also manufactures and supplies Oxandrin(R) (oxandrolone tablets, USP) CIII in the U.S. Puricase is a registered trademark of Mountain View Pharmaceuticals, Inc.


SOURCE Savient Pharmaceuticals, Inc.

SOURCE Savient Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Savient Pharmaceuticals Prices Underwritten Offering of Common Stock
2. Savient Pharmaceuticals Announces Proposed Public Offering of Common Stock
3. Savient Provides Update on Pegloticase BLA
4. Savient Announces FDAs Advisory Panel to Review Pegloticase for Treatment-Failure Gout Patients
5. Access Pharmaceuticals Provides Update on MuGard Commercial Launch and First European Clinicians Feedback
6. Data from Jazz Pharmaceuticals First Phase III Study of Sodium Oxybate in Patients With Fibromyalgia to be Presented at Upcoming Conferences
7. Timm Medical Technologies and Ferring Pharmaceuticals Enter Exclusive Co-Promotion Agreement for Prosed(R) DS
8. China Yongxin Pharmaceuticals Inc. Announces Second Quarter 2009 Financial Results
9. VIA Pharmaceuticals Receives Favorable Hearing Decision From NASDAQ
10. Vanda Pharmaceuticals Enters into an Exclusive License Agreement for the Commercialization and Development of Fanapt(TM) in the U.S. and Canada for the Treatment of Schizophrenia
11. Vion Pharmaceuticals Engages Merriman Curhan Ford to Evaluate Strategic Alternatives
Post Your Comments:
(Date:6/24/2016)... , June 24, 2016 Dehaier Medical ... the "Company"), which develops, markets and sells medical devices ... , signed a strategic cooperation agreement with Hongyuan ... "Hongyuan Supply Chain") on June 20, 2016, to develop ... the strategic cooperation agreement, Dehaier will leverage Hongyuan Supply ...
(Date:6/24/2016)... Mass. , June 24, 2016   Pulmatrix, ... pharmaceutical company developing innovative inhaled drugs, announced today that ... Russell Investments reconstituted its comprehensive set of ... "This is an important milestone for Pulmatrix," ... will increase shareholder awareness of our progress in developing ...
(Date:6/23/2016)... Research and Markets has announced the ... to 2022" report to their offering. ... patients with kidney failure, it replaces the function of kidneys ... blood and thus the treatment helps to keep the patient ... Increasing number of ESRD patients & substantial ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... 2016 , ... Pixel Film Studios Released ProSlice Levels, a Media Slicing Effect ... videos a whole new perspective by using the title layers in ProSlice Levels ... , ProSlice Levels contains over 30 Different presets to choose from. FCPX ...
(Date:6/25/2016)... ... June 25, 2016 , ... Experts from the American Institutes ... Research Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. , ... advance care planning, healthcare costs and patient and family engagement. , AIR researchers ...
(Date:6/25/2016)... ... 25, 2016 , ... First Choice Emergency Room , the largest network ... the Medical Director of its new Mesquite-Samuell Farm facility. , “We are pleased ... location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... Conventional wisdom ... of success. In terms of the latter, setting the bar too high can result ... more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... ... 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was out of ... verbally and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... throw rocks at my other children and say he was going to kill them. ...
Breaking Medicine News(10 mins):