Published on 7/14/2005 in the Prospect News Biotech Daily.
New Issue: BioMarin sells 8.5 million shares at $7.05 each, discounted from Wednesday's close of $7.56
By Ronda Fears
Nashville, July 14 - BioMarin Pharmaceutical Inc. priced 8.5 million shares of common stock at $7.05 per share, discounted from Wednesday's closing price of $7.56, in an offering managed by Merrill Lynch & Co.
Novato, Calif.-based BioMarin did not specify the use of proceeds. The company, focused on treatments for genetic diseases, has two approved products and various investigational product candidates, including Phenoptin, a treatment for phenylketonuria in phase III clinical trials.
| Issuer: | BioMarin Pharmaceutical Inc.
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| Issue: | Common stock
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| Gross proceeds: | $59.9 million
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| Net proceeds: | $56.6 million
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| Shares: | 8.5 million
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| Price: | $7.05 per share
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| Bookrunners: | Merrill Lynch & Co.
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| Pricing date: | July 13
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| Symbol: | BMRN
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