Navigation Links
Savient Pharmaceuticals Prices Underwritten Offering of Common Stock

EAST BRUNSWICK, N.J., Oct. 8 /PRNewswire-FirstCall/ -- Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) announced today the pricing of an underwritten offering of 4,300,000 shares of its common stock at a price of $13.29 per share. After underwriting discounts and commissions and estimated offering expenses, Savient expects to receive net proceeds of approximately $52.9 million. All of the shares are being sold by Savient. In addition, Savient has granted the underwriters a 30-day option to purchase up to an additional 645,000 shares of the Company's common stock to cover over-allotments. The offering is expected to close on October 15, 2009, subject to customary closing conditions.

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.

A shelf registration statement on Form S-3 relating to the shares was filed with the Securities and Exchange Commission on September 24, 2007 and became effective on October 10, 2007. Information about the offering is available in the prospectus supplement to be filed with the Securities and Exchange Commission. J.P. Morgan Securities Inc. is acting as sole book-running manager of the offering, with Wedbush PacGrow Life Sciences as lead manager and Lazard Capital Markets as co-manager.

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. Copies of the 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.


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 Announces Proposed Public Offering of Common Stock
2. Savient Provides Update on Pegloticase BLA
3. Savient Announces FDAs Advisory Panel to Review Pegloticase for Treatment-Failure Gout Patients
4. Endo Pharmaceuticals to Announce Third Quarter 2009 Financial Results on October 29, 2009
5. Paratek Pharmaceuticals Signs Worldwide License and Commercialization Agreement for PTK 0796, Broad-Spectrum Oral and IV Antibiotic in Phase 3
6. Cornerstone Pharmaceuticals Adds Acclaimed Cancer Research Pioneer Robert A. Weinberg, Ph.D. to Its Scientific Advisory Board
7. Rib-X Pharmaceuticals, Inc. Co-Founder, Thomas A. Steitz, Ph.D., Awarded the 2009 Nobel Prize in Chemistry
8. Biostar Pharmaceuticals, Inc. Receives the Chinese Military Drug Administration Clearance to Begin Clinical Trial for Zushima Analgesic Aerosol Spray
9. Peregrine Pharmaceuticals Forms Anti-Viral Research Group to Oversee Its Anti-PS Infectious Disease Collaborations
10. Tetraphase Pharmaceuticals Completes Series B Financing to Support the Advancement of Novel Antibiotic Drug Candidates
11. Merz Pharmaceuticals Announces Phase III Data for NT 201 in Post-stroke Upper Limb Spasticity
Post Your Comments:
(Date:6/23/2016)... BOGOTA, Colombia , June 23, 2016  Astellas today announced the establishment of Astellas Farma Colombia (AFC), a ... second affiliate in Latin America . ... ... ... ...
(Date:6/23/2016)... , June 23, 2016  Guerbet announced today ... Inc.,s Supplier Horizon Award . One ... Guerbet was recognized for its support of Premier members ... through clinical excellence, and commitment to lower costs. ... receive this recognition of our outstanding customer service from ...
(Date:6/23/2016)... 23, 2016 Research and Markets ... Volumes: Global Analysis (United States, China, Japan, Brazil, United ... to their offering. ... healthcare business planners, provides surgical procedure volume data in ... with an in-depth analysis of growth drivers and inhibitors, ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his Bachelors in ... School of Medicine at UCLA. He trained in Internal Medicine at Scripps Green Hospital ... at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to train in ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, ... at Work award to iHire in recognition of their exemplary accomplishments in worksite health ... annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... A ... procedures that most people are unfamiliar with. The article goes on to state that ... but also many of these less common operations such as calf and cheek reduction. ...
(Date:6/24/2016)... ... 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance Day. ... the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, has ... , Sickle Cell Disease (SCD) is a disorder of the red blood cells, which ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Sessions in Dallas that it will receive two significant new grants to support ... as PHA marked its 25th anniversary by recognizing patients, medical professionals and scientists ...
Breaking Medicine News(10 mins):