| Ticker: NTEC | 102 Witmer Road | |
| Exchange: NASDAQ-National Market | Horsham, Pennsylvania 19044 | |
| Industry: Service | (215) 441-5890 |
| Type of Shares: | Common Shares | Filing Date: | 12/21/95 | |
| U.S. Shares: | 2,250,000 | Offer Date: | 2/15/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.50 - $14.50 | |
| Primary Shares: | 2,250,000 | Offer Price: | $12.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.88 | |
| Offering Amount: | $30,375,000 | Selling: | $0.50 | |
| Expenses: | $600,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,805,958 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Vector Securities International, Inc. | Co-manager | (708) 940-1970 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $1.20 | Assets: | $14.64 | ||
| Net Income: | -$5.07 | Liabilities: | $2.91 | ||
| EPS: | -$1.05 | Equity: | $11.73 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leader in the enzymatic synthesis of complex carbohydrates and discovers and develops complex carbohydrates for nutritional and pharmaceutical uses. Complex carbohydrates serve as attachment sites for many pathogens that cause infectious diseases. Present on all cells, these compounds play a critical role in the immune response. Because oligosacchararides are difficult and expensive to produce, their development for health care applications has been significantly limited despite the role they play in human diseases. The company believes that its proprietary Multi-Transferase Reaction technology enables, for the first time, the rapid and cost effective production of naturally occurring oligosaccharides as additives in infant formula. Neose's proprietary MTR technology utilizes enzymes as part of a molecular assembly line to synthesize a wide variety of oligosaccharides. |
| Use of Proceeds |
| The company intends to use approximately $10.0 million of the net proceeds of this offering to fund its research and product development activities, approximately $3.0 million for capital expenditures, and the balance for working capital and general corporate purposes. |
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