| Ticker: ADRX | 47th Avenue, Suite 201 | |
| Exchange: NASDAQ-National Market | Fort Lauderdale, Florida 33314 | |
| Industry: Manufacturing | (954) 584-0300 |
| Type of Shares: | Common Shares | Filing Date: | 4/17/96 | |
| U.S. Shares: | 2,200,000 | Offer Date: | 6/14/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,200,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.84 | |
| Offering Amount: | $26,400,000 | Selling: | $0.47 | |
| Expenses: | $500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,933,132 |
| Manager | Tier | Phone |
| Oppenheimer & Company, Inc. | Lead Manager | (212) 667-7402 |
| Gruntal & Co | Co-manager | (212) 267-8800 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $53.16 | $18.92 | $11.43 | Assets: | $33.89 |
| Net Income: | -$5.19 | -$0.72 | -$0.65 | Liabilities: | $16.29 |
| EPS: | -$0.55 | -$0.07 | -$0.07 | Equity: | $17.60 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is engaged in the formulation and commercialization of controlled-release oral pharmaceuticals utilizing the company's proprietary drug delivery technologies. Pharmaceutical companies are increasingly utilizing controlled-release drug delivery technologies to improve drug therapy. Controlled-release drug delivery technologies generally provide more consistent and appropriate drug levels in the bloodstream than immediate-release dosage forms and may improve drug efficacy and reduce side effects by releasing drug dosages at specific times and in specific locations in the body. These technologies also allow for the development of patient friendly dosage forms, which reduce the frequency of drug administration, thus improving patient compliance. Controlled-release pharmaceuticals can be especially beneficial for certain patient populations, such as the elderly, who often require several medications with differing dosing regimens. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund research and product development activities for the company's controlled release drug delivery technologies and capital expenditures for product development, primarily the establishment of commercial scale manufacturing operations for the company's generic versions of Cardizem CD and Dilacor XR. |
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