| Ascent Pediatrics, Inc. | |||
| Ticker: | ASCT | 187 Ballardvale Street | |
| Exchange: | NASDAQ-National Market | Wilmington, MA 01887 | |
| Industry: | Manufacturing (SIC Code 2834) | (508) 658-2500 | |
| Type of Shares: | Common Shares | Filing Date: | 3/14/97 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 5/30/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.63 | |
| Offering Amount: | $24,000,000 | Selling: | $0.35 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 6,638,719 |
| Manager | Tier | Phone |
| Cowen & Company | Lead Manager | (212) 495-6000 |
| Adams, Harkness & Hill | Co-manager | (617) 371-3705 |
| Volpe, Welty & Company | Co-manager | (415) 274-4463 |
| Issuer's Law Firm: | Hale and Dorr |
| Bank's Law Firm: | Mintz, Levin, Cohn, Ferris, Glovsky And Popeo |
| Auditor: | Coopers & Lybrand |
| Registrar/Transfer Agent: | Boston Equiserve Limited Partnership |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $0.00 | Assets: | $2.63 | ||
| Net Income: | -$6.49 | Curr Assets: | |||
| EPS: | -$1.48 | Liabilities: | $1.57 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | -$5.29 | Equity: | $1.05 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a drug development and marketing company focused exclusively on the pediatric market. The company's strategy is to address unmet medical needs of children through the development of differentiated, proprietary products based on approved compounds with well known clinical profiles. The company is developing a range of pharmaceuticals products, primarily for sale on a prescription basis, which are designed to improve upon currently available products for the most common pediatric illnesses through the application of its drug delivery and reformulation technologies. By developing products based on currently approved drugs, rather than new chemical entities, the company believes that it can reduce regulatory and development risks and shorten the product development cycle. In addition, the company believes that the market acceptance of its products will be enhanced by the familiarity of pediatricians with the compounds that serve as the basis of these products. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to purchase Upsher-Smith Laboratories Inc.'s line of Feverall acetaminophen rectal suppositories, for product development activities and clinical research and for general corporate purposes. |