| Ticker: ALGO | 4900 Route 33 | |
| Exchange: NASDAQ-National Market | Neptune, New Jersey 07753 | |
| Industry: Manufacturing | (908) 938-5959 |
| Type of Shares: | Common Shares | Filing Date: | 5/22/96 | |
| U.S. Shares: | 3,500,000 | Offer Date: | 9/25/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 3,500,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $52,500,000 | Selling: | $0.55 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 15,544,119 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| Cowen & Company | Co-manager | (212) 495-6000 |
| 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: | $3.20 |
| Net Income: | -$2.12 | -$0.57 | -$0.55 | Liabilities: | $0.23 |
| EPS: | -$0.18 | -$0.05 | Equity: | $2.97 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Algos Pharmaceutical Corporation ('Algos' or the 'Company') is a leader in developing a new generation of proprietary pain management products. Independent research, the Company's pre-clinical studies and initial clinical trials have shown that the Company's products may significantly improve pain relief over currently available analgesics, including narcotic drugs such as morphine, hydrocodone and oxycodone and non-narcotic analgesics such as acetaminophen, ibuprofen and naproxen. The Company is also developing a local anesthetic product that is expected to provide greater anesthetic effect with longer and more controlled duration than existing products. The Company develops its proprietary pain management products by combining existing analgesic or anesthetic drugs with N-methyl-D-aspartate ('NMDA') antagonist drugs that have been approved for human use in other applications. The Company believes that its analgesic and anesthetic products have the potential for more rapid market introduction than many other new drugs because (i) the Company's products combine existing drugs whose separate safety profiles are known and established and (ii) clinical trials for new analgesics and anesthetics historically have achieved statistically significant results with fewer patients than may be required for many other drugs. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund research and product development; the establishment of a direct sales force; working capital and other general corporate purposes. |
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