News
SENOMYX, INC. ANNOUNCES PRICING OF PUBLIC OFFERING OF COMMON STOCK
SAN DIEGO, CA – February 12, 2010 – Senomyx, Inc. (NASDAQ: SNMX) announced today the pricing of an underwritten public offering of 7,142,857 shares of its common stock at a price to the public of $2.80 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $20.0 million. The offering is expected to close on or about February 18, 2010, subject to customary closing conditions. Senomyx has also granted the underwriters a 30-day option to purchase up to an aggregate of 1,071,428 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are being sold by Senomyx.
Senomyx anticipates using the net proceeds from the offering to fund research and development efforts, and for general corporate purposes, including working capital.
Deutsche Bank Securities Inc. is acting as sole book-running manager for the offering. Needham & Company, LLC and Roth Capital Partners, LLC are acting as co-managers of the offering. A copy of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or by contacting Deutsche Bank Securities Inc., Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, Telephone number: (800) 503-4611, Email: prospectusrequest@list.db.com.
A shelf registration statement relating to the shares was filed with the Securities and Exchange Commission and is effective. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
About Senomyx, Inc.
Senomyx is a leading company using proprietary taste receptor technologies to discover and develop novel flavor ingredients in the savory, sweet, salt, bitter, and cooling areas. The Company has product discovery and development collaborations with global food, beverage, and ingredient supply companies, some of which are currently marketing products that contain Senomyx’s flavor ingredients.
Forward-Looking Statements
Certain of the statements made in this press release are forward looking, such as those, among others, relating to Senomyx’s expectations regarding the completion, timing and size of the proposed public offering. 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 market conditions and the satisfaction of customary closing conditions related to the proposed public offering. There can be no assurance that Senomyx will be able to complete the proposed public offering on the anticipated terms, or at all. Senomyx will continue to need significant amounts of additional capital to fund its operations and may be unable to raise capital when needed, which would force Senomyx to delay, reduce the scope of or eliminate one or more of its development programs. Additional risks and uncertainties relating to the proposed offering, Senomyx and its business can be found under the heading “Risk Factors” in Senomyx’s Annual Report on Form 10-K for the year ended December 31, 2009, and in the preliminary prospectus supplement related to the proposed offering filed with the Securities and Exchange Commission on February 11, 2010. Senomyx disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
gwen.rosenberg@senomyx.com
Investor Relations:
Gwen Rosenberg
Vice President, Investor Relations & Corporate Communications
Senomyx, Inc.
858-646-8369
