| Ticker: FLMLY | Parc Club du Moulin a Vent 33, avenue du Docteur Levy | |
| Exchange: NASDAQ-National Market | Venissieux Cedex, Foreign 69693 | |
| Industry: Manufacturing | 3378776804 |
| Type of Shares: | American Depositary Receipts | Filing Date: | 4/19/96 | |
| U.S. Shares: | 2,500,000 | Offer Date: | 6/7/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,380,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 120,000 | Gross Spread: | $0.84 | |
| Offering Amount: | $32,500,000 | Selling: | $0.46 | |
| Expenses: | $1,100,000 | Reallowance: | $0.10 | |
| Shares Out After: | 9,737,582 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 727-1700 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $2.83 | $2.13 | $0.41 | Assets: | $7.91 |
| Net Income: | -$6.75 | -$1.49 | -$1.42 | Liabilities: | $5.64 |
| EPS: | -$1.08 | -$0.21 | -$0.23 | Equity: | $2.26 |
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 drug delivery company engaged in the development and commercialization of controlled-release pharmaceutical products based upon its proprietary polymer-based Micropump microencapsulation technology. This technology is designed to permit both controlled release of drugs and targeting to the small intestine - the preferred site of absorption for many drugs. The company's expertise in advanced polymer technologies and innovative biomaterials has permitted the company to develop additional technology platforms including: nanoencapsulation of proteins and peptides, soft-tissue surgical adhesives and specialty materials for opthalmic lenses. To date, the company has entered into licensing or partnership arrangements with major corporations to commercialize products using its technologies, fund development work, and in selected cases, codevelop the specific applications, including agreements with, among others, G.D. Searle & Co., SmithKline Beecham plc, Bristol-Myers Squibb Company and Corning Incorporated. |
| Use of Proceeds |
| Proceeds from the offering will be used for research and development, clinical trials, capital expenditures, working capital and for general corporate purposes. |
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