| Ticker: ITRC | 3200 Chapel Hill/Nelson Highway, Cape Fear Building, Suite 101 | |
| Exchange: NASDAQ-National Market | Research Triangle Park, North Carolina 27709 | |
| Industry: Manufacturing | (919) 558-8688 |
| Type of Shares: | Common Shares | Filing Date: | 12/11/95 | |
| U.S. Shares: | 2,200,000 | Offer Date: | 2/1/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,200,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.05 | |
| Offering Amount: | $28,600,000 | Selling: | $0.61 | |
| Expenses: | $500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,395,621 | |||
| Spin out parent firm: | Interneuron Pharmaceuticals (IPIC) | |||
| Manager | Tier | Phone |
| Montgomery Securities | Lead Manager | 4156272220 |
| Raymond James & Associates, Inc. | Co-manager | (813) 573-8108 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 9/30/95 | 9/30/95 | ||||
| Revenue: | $0.06 | Assets: | $1.29 | ||
| Net Income: | -$2.53 | Liabilities: | $1.42 | ||
| EPS: | -$0.52 | Equity: | -$0.13 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company develops therapeutics for the treatment of cardiovascular and pulmonary diseases. The company's strategy is to develop and add value to in-licensed products and to enter into collaborations or licensing agreements with corporate partners for product development, commercialization, manufacturing and marketing. The company's most advanced product is bucindolol, a drug currently in phase III clinical trials for treatment of congestive heart failure. The company's other program is in the early stages of development and focuses on catalytic antioxidant small molecules as therapeutics for a variety of conditions, including neonatal respiratory distress syndrome and resulting broncho-pulmonary dysplasia, stroke and asthma. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for development and clinical trials of bucindolol, research and development, working capital and other general corporate purposes. |
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