Financings In Brief: Amylin Pharmaceuticals
Executive Summary
Amylin Pharmaceuticals: Files registration with the Securities & Exchange Commission for secondary public offering of approximately 3.8 mil. shares of common stock, San Diego-based Amylin announces Sept. 1. The company will offer 2.5 mil. shares to the public and has reserved approximately 1.3 mil. shares worth about $10 mil. for sale directly to Johnson & Johnson Development Corp. J&J is Amylin's corporate partner for the development of pramlintide (an analog of amylin), which is in Phase III trials for Type I (juvenile onset) diabetes and in Type II (adult onset) insulin-dependent patients. Proceeds from the offering will be used to fund the Phase III pivotal trials, among other uses. Hambrecht & Quist, Vector Securities and UBS Securities are underwriting the offering. Amylin will have roughly 28 mil. shares of common stock outstanding after the offering, including the J&J shares but excluding any sales to the underwriters to cover over-allotments...