| Depomed, Inc. | |||
| Ticker: | DPMD | 1170 B Chess Drive | |
| Exchange: | NASDAQ-Small Cap Market | Foster City, CA 94404 | |
| Industry: | Service (SIC Code 8731) | (415) 513-0990 | |
| Type of Shares: | Common Shares | Filing Date: | 4/18/97 | |
| U.S. Shares: | 1,200,000 | Offer Date: | 11/4/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $6.00 - $7.00 | |
| Primary Shares: | 1,200,000 | Offer Price: | $6.10 | |
| Secondary Shares: | 0 | Gross Spread: | $0.49 | |
| Offering Amount: | $7,800,000 | Selling: | $0.29 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 6,763,447 |
| Manager | Tier | Phone |
| National Securities Corp. | Lead Manager | (800) 800-9217 |
| Issuer's Law Firm: | Heller, Ehrman, White & McAuliffe |
| Bank's Law Firm: | Orrick, Herrington & Sutcliffe |
| Auditor: | Ernst & Young |
| Registrar/Transfer Agent: | Continental Stock Transfer & Trust Co |
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: | $0.32 | Assets: | $0.33 | ||
| Net Income: | -$0.47 | Curr Assets: | |||
| EPS: | -$0.11 | Liabilities: | $0.71 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | -$0.39 | Equity: | -$0.38 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a development stage company engaged in the development of new and proprietary oral drug delivery technologies. Utilizing these technologies, the company has developed two types of oral drug delivery systems, the Gastric Retention System and the Reduced Irritation System. The GR System is designed to be retained in the stomach for an extended period of time while it delivers the incorporated rug or drugs, and the RI System is designed to reduce the gastrointestinal irritation that is a side effect of many drugs. In addition, the company's Systems are designed to provide continuous, controlled delivery of an incorporated drug. The company intends to develop products utilizing the company's Systems in collaboration with pharmaceutical and biotechnology companies, from which the company expects to receive license fees, research and development funding, milestone payments and royalties. The company also intends to develop independently certain over-the-counter and generic oral drug products utilizing the company's Systems. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for research and development, laboratory and facilities capital expenditures, repayment of certain indebtedness and working capital and general corporate purposes. |