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Advanced Magnetics (Nasdaq: AMAG) today announced the pricing of an underwritten public
offering of 2,500,000 shares of its common stock at a price to the public
of $65.14 per share, before underwriting discounts and commissions. The
number of shares reflects an increase of 500,000 shares over the number of
shares anticipated to be sold as previously announced. Advanced Magnetics
also granted the underwriters a 30-day option to purchase up to an
additional 375,000 shares of common stock. All of the shares are being
offered by Advanced Magnetics. The offering is expected to close on or
about May 29, 2007, subject to customary closing conditions.
Morgan Stanley & Co. Incorporated is acting as the sole book-running
manager for the offering. Bear, Stearns & Co. Inc. is acting as joint lead
manager for the offering. Deutsche Bank Securities Inc., Jefferies &
Company, Inc. and ThinkEquity Partners LLC are acting as co-managers for
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission and became effective upon
filing. The offering may be made only by means of a prospectus supplement
and the accompanying prospectus. Copies of the final prospectus supplement
and the accompanying prospectus may be obtained by sending a request to
Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, New York,
New York 10004, .
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of the securities, nor shall there be
any sale of these securities, in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
About Advanced Magnetics
Advanced Magnetics, Inc. is a biopharmaceutical company that utilizes
its proprietary nanoparticle technology for the development and
commercialization of therapeutic iron compounds to treat anemia and novel
imaging agents to aid in the diagnosis of cancer and cardiovascular
Ferumoxytol, the company's key product candidate, is being developed
for use as an intravenous iron replacement therapeutic for the treatment of
iron deficiency anemia in chronic kidney disease. The company has completed
enrollment in four Phase III clinical trials with ferumoxytol and has
presented data on three of the four trials.
Combidex, the company's other product under development, is an
investigational functional molecular imaging agent consisting of iron oxide
nanoparticles for use in conjunction with magnetic resonance imaging (MRI)
to aid in the differentiation of cancerous from normal lymph nodes. In
March 2005, the company received an approvable letter from the FDA with
respect to Combidex, subject to certain conditions.
The company has two commercial products, Feridex I.V.(R) and
GastroMARK(R), both of which are imaging agents that are approved and
marketed in the United States, Europe and other countries.
For more information, please click here
Senior Director, Investor Relations
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