| Ticker: VRII | 61 Moulton Street | |
| Exchange: NASDAQ-National Market | Cambridge, Massachusetts 02138 | |
| Industry: Service | (617) 864-6232 |
| Type of Shares: | Common Shares | Filing Date: | 4/12/96 | |
| U.S. Shares: | 2,300,000 | Offer Date: | 6/5/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,300,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.84 | |
| Offering Amount: | $27,600,000 | Selling: | $0.48 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,793,511 |
| Manager | Tier | Phone |
| Oppenheimer & Company, Inc. | Lead Manager | (212) 667-7402 |
| Pacific Growth Equities | Co-manager | (415) 398-4563 |
| Auditor: Eisner, Richard A. | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $1.96 | $0.56 | $0.07 | Assets: | $2.30 |
| Net Income: | -$6.30 | -$1.37 | -$2.29 | Liabilities: | $2.91 |
| EPS: | -$0.98 | -$0.21 | -$0.36 | Equity: | -$0.61 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is developer of vaccine delivery systems. The company is developing a polymer that can be combined with vaccines as an adjutant that boosts their effectiveness. These combinations, can be injected or administered through a nasal spray. Virus Research Institution , Inc. is engaged in the directory and development of vaccine delivery systems and improved and novel vaccines for adults and children. The company is developing a portfolio of proprietary vaccine delivery systems designed to improve the efficiency, lower the cost of administration and improve patient compliance for a variety of vaccine products. The company and its collaborators currently are applying the company's vaccine delivery systems to develop vaccines for the prevention of influenza, Lyme disease and Helicobacter pylori infections. The company has entered into long-term collaboration agreements with Pasteur Meriex Serums & Vaccins, a wholly-owned subsidiary of Rhone Poulenc S.A., pursuant to which Pasteur Merieux may utilize the company's vaccine delivery systems in developing a number of vaccines. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt, to finance research and development and for working capital and other general corporate purposes. |
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