| Ticker: | VIRS | 4 University Place, 4611 University Drive | |
| Exchange: | NASDAQ-National Market | Durham, North Carolina 27707 | |
| Industry: | Manufacturing | (919) 493-5980 |
| Type of Shares: | Common Shares | Filing Date: | 9/11/96 | |
| U.S. Shares: | 3,360,000 | Offer Date: | 10/31/96 | |
| Non-U.S. Shares: | 840,000 | Filing Range: | $7.50 - $9.50 | |
| Primary Shares: | 4,200,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.70 | |
| Offering Amount: | $35,700,000 | Selling: | $0.42 | |
| Expenses: | $700,000 | Reallowance: | $0.10 | |
| Shares Out After: | 17,015,238 |
| Manager | Tier | Phone |
| Dillon, Read & Co. Inc. | Lead Manager | (212) 906-7000 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-2000 |
| ING Baring (U.S.) Securities, Inc. | Co-manager | (212) 350-7700 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/96 | |||
| Revenue: | $0.00 | $0.00 | Assets: | $18.03 | |
| Net Income: | -$0.97 | -$5.50 | Liabilities: | $1.10 | |
| EPS: | -$0.07 | -$0.39 | Equity: | $16.93 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops new drug candidates, primarily working on antiviral therapies. Triangle's emphasis is on drugs to treat HIV, including AIDS and the hepatitis B virus (HBV). The company also develops drugs to treat cancer. Triangle focuses on drug development rather than drug discovery. Through its development of drugs for the treatment of HIV and cancer, Triangle focuses on combination therapy and small molecule drugs. The company also has license agreements with Emory University and the University of Georgia Research Foundation for various drug candidates. All of the company's drug candidates are in an early phase of development. The company expects to commence Phase Ia clinical trial and is currently conducting a Phase Ib/IIa clinical trial with one of its anti-HIV drug candidates. The company expects to commence Phase I clinical trials for most of its other existing drug candidates by the end of 1997. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes, including drug development programs such as preclinical testing and clinical trials, the payment of license fees and other amounts to licensors and working capital. |
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