Financing to support global commercialization of Iclusig™
(ponatinib) and additional clinical development of its investigational
targeted cancer medicines
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced the pricing
of an underwritten public offering of 15,307,000 shares of its common
stock, at a price to the public of $19.60 per share. The offering is
expected to close on or about January 29, 2013, subject to customary
closing conditions. In addition, ARIAD has granted the underwriters a
30-day option to purchase up to 2,296,050 additional shares of common
stock to cover over-allotments, if any.
J.P. Morgan Securities LLC, Cowen and Company, LLC and Jefferies &
Company, Inc. are acting as joint book-running managers and underwriters
for the offering. BMO Capital Markets, Leerink Swann LLC, RBC Capital
Markets, LLC and UBS Investment Bank are acting as co-managers for the
offering.
This funding is expected to enable ARIAD to support sales, marketing,
manufacturing and distribution of Iclusig™ (ponatinib). ARIAD
anticipates that this funding will also enable it to continue ongoing
global development of its other product candidates, including clinical
trials, product and process development activities, manufacturing and
other activities; expand its operations in Europe and other territories
to prepare for future commercial launch of products, if approved;
continue discovery research efforts to add to its pipeline of product
candidates; and be used for other general corporate purposes, including,
but not limited to, repayment or refinancing of existing indebtedness or
other corporate borrowings, capital expenditures and possible
acquisitions.
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above was filed with
the Securities and Exchange Commission (the “SEC”) and is effective. A
preliminary prospectus supplement relating to the offering has been
filed with the SEC, and a final prospectus supplement relating to the
offering will be filed with the SEC. Copies of the final prospectus
supplement and accompanying prospectus, when available, may be obtained
from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Telephone number
866-803-9204); the offices of Cowen and Company, LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717
(Telephone number 631-274-2806); or the offices of Jefferies & Company,
Inc., Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th
Floor, New York, NY, 10022, or by telephone at 877-547-6340, or by email
at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About ARIAD
ARIAD Pharmaceuticals, Inc. is a global oncology company focused on the
discovery, development and commercialization of medicines to transform
the lives of cancer patients. For more information about ARIAD, visit
the company’s website at www.ariad.com.
Forward-looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to our expectations
regarding the expected closing date of the public offering, the
use of proceeds, our commercialization and drug development plans and
the sufficiency of funds for the next two years. Actual results or
developments may differ materially from those projected or implied in
these forward looking statements. Factors that may cause such a
difference include, without limitation, risks and uncertainties related
to whether or not we will be able to raise capital through the sale of
shares of common stock, market and other conditions, the satisfaction of
customary closing conditions related to the public offering and the
impact of general economic, industry or political conditions in the
United States or internationally. There can be no assurance that we will
be able to complete the public offering on the anticipated terms, or at
all. You should not place undue reliance on these forward looking
statements, which apply only as of the date of this press release.
Additional risks and uncertainties relating to the offering, ARIAD and
our business can be found under the heading "Risk Factors" in the
filings that we periodically make with the SEC and in the preliminary
prospectus supplement related to the offering filed with the SEC on the
date hereof. In addition, the forward-looking statements included in
this press release represent our views as of the date of this press
release. We anticipate that subsequent events and developments will
cause our views to change. However, while we may elect to update these
forward-looking statements at some point in the future, we specifically
disclaim any obligation to do so. These forward-looking statements
should not be relied upon as representing our views as of any date
subsequent to the date of this press release.
