Rochester, NY 7/10/2009 9:47:44 PM
Stock Exchange News - XNPT - XNPT prices stock offering of 2.5 million at $19 per share and receive $54.6 million - Sourced WhisperFromWallStreet.com
XenoPort, Inc.
Stock Exchange News - XNPT - XNPT prices stock offering of 2.5 million at $19 per share and receive $54.6 million - Sourced WhisperFromWallStreet.com
COMPANY - XenoPort, Inc.,XNPT
NEWS - Drug developer XenoPort Inc. said Wednesday it priced an offering of 2.5 million shares of stock at $19 per share.The offer price is a discount of 11.6 percent to XenoPort's Tuesday closing price of $21.50, and its stock lost $2.44, or 11.4 percent, to $19.06 in morning trading. The underwriters of the offering will have the option to buy as many as 375,000 additional shares. In total, XenoPort could receive $54.6 million in gross proceeds.XenoPort announced the planned offering Tuesday, and said it will use the proceeds to fund clinical testing, research and development, manufacturing, sales, marketing and other corporate purposes.
Last Trade: 19.17
Day's Range: N/A - N/A
52wk Range: 13.36 - 51.42
Volume: 0
ABOUT - XenoPort, Inc., a biopharmaceutical company, focuses on developing internally discovered product candidates that utilize the body?s natural nutrient transport mechanisms to enhance the therapeutic benefits of drugs. Its portfolio of product candidates includes XP13512, which is a transported prodrug of gabapentin, has been evaluated in a phase III clinical program for the treatment of restless legs syndrome, as well as completed a phase IIa clinical trial for the management of post-herpetic neuralgia; XP19986, a transported prodrug of R-baclofen for the treatment of gastroesophageal reflux disease and spasticity; and XP21279, a transported prodrug of levodopa, which is in phase I clinical trial for the treatment of Parkinson?s disease.
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