| Ticker: | CALY | 1440 Fourth Street | |
| Exchange: | NASDAQ-Small Cap Market | Berkeley, California 94710 | |
| Industry: | Manufacturing | (510) 526-2541 |
| Type of Shares: | Common Shares | Filing Date: | 5/20/96 | |
| U.S. Shares: | 2,300,000 | Offer Date: | 7/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 2,300,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.42 | |
| Offering Amount: | $20,700,000 | Selling: | $0.25 | |
| Expenses: | $1,020,000 | Reallowance: | $0.10 | |
| Shares Out After: | 10,164,651 |
| Manager | Tier | Phone |
| Pacific Crest Securities Inc. | Lead Manager | (503) 248-0721 |
| Auditor: KPMG Peat Marwick | |||||
| 3 Month Ending Financials | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.00 | $0.00 | $0.00 | Assets: | $6.59 |
| Net Income: | -$10.41 | -$2.85 | -$1.43 | Liabilities: | $10.84 |
| EPS: | -$1.50 | -$0.41 | -$0.21 | Equity: | -$4.25 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Calypte Biomedical Corporation is a leader in the development of a urine-based screening test for the detection of Human Immunodeficiency Virus Type-1 ("HIV-1"), the putative cause of Acquired Immunodeficiency Syndrome ("AIDS"). The Company has integrated several proprietary technologies to develop a test which, in clinical trials, detected the presence of HIV antibodies in urine with 99.33% sensitivity (as compared to blood). Specificity of the screening test with a companion western blot confirmatory test was 100%. Calypte believes that its proprietary urine-based test offers significant advantages compared to existing blood-based tests, including ease-of-use, lower costs, and significantly reduced risk of infection from collecting and handling specimens. On March 28, 1996, the Company received a letter from the U.S. Food and Drug Administration ("FDA") stating that the Company's HIV-1 urine screening test was approvable pending finalization of the package insert and other labeling. The Company's screening test, when used with the western blot confirmatory test for urine licensed from Cambridge Biotech Corporation ("Cambridge Biotech"), will provide the only complete urine-based HIV testing system. |
| Use of Proceeds |
| The proceeds from the offering will be used to expand product development efforts clinical trials; develop Calypte Biomedical Laboratories; expand manufacturing capacity; redeem mandatorily redeemable preferred stock; repay certain indebtedness; and for working capital and general corporate purposes. |
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