| Hyseq, Inc. | |||
| Ticker: | HYSQ | 670 Almanor Avenue | |
| Exchange: | NASDAQ-National Market | Sunnyvale, CA 94086 | |
| Industry: | Manufacturing (SIC Code 2835) | (408) 524-8100 | |
| Type of Shares: | Common Shares | Filing Date: | 6/12/97 | |
| U.S. Shares: | 3,000,000 | Offer Date: | 8/7/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 3,000,000 | Offer Price: | $14.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $39,000,000 | Selling: | $0.55 | |
| Expenses: | $750,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,127,418 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 526-8100 |
| Fahnestock & Co. Inc. | Co-manager | (212) 668-8163 |
| Smith Barney Inc. | Co-manager | (212) 723-7300 |
| Issuer's Law Firm: | Sachnoff & Weaver |
| Bank's Law Firm: | Wilson, Sonsini, Goodrich & Rosati |
| Auditor: | Ernst & Young |
| Registrar/Transfer Agent: | U. S. Stock Transfer Corporation |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 3/31/97 | 3/31/96 | 3/31/97 | ||
| Revenue: | $0.43 | $0.27 | $0.08 | Assets: | $7.55 |
| Net Income: | -$4.84 | -$1.92 | -$1.27 | Curr Assets: | |
| EPS: | -$0.52 | -$0.21 | Liabilities: | $1.97 | |
| Prior EPS: | -$1.71 | -$0.83 | Curr Liabilities: | ||
| Cash Flow/Oper: | -$6.85 | Equity: | $5.57 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company applies the proprietary DNA array technology of its integrated HyX genomics platform to develop gene-based therapeutic product candidates and diagnostic products and tests. The company believes that its HyX Platform, which utilizes the company's proprietary sequencing by hybridization technology as its foundation, generates higher gene sequence throughput with greater analytical flexibility and accuracy and lower cost than prevailing technologies. The HyX Platform'sGene Discovery Module presently is analyzing human DNA samples at a rate of approximately 50% of a module's current capacity. Based in part on this rate of analysis and on published industry information, the company believes that its HyGenomics Database of partial gene sequences is one of the largest proprietary human gene databases in the world. The company has collaborative agreements with ciron Corporation regarding commercialization of its HyChip products, and initial agreements with SmithKline Beecham Clinical Laboratories, Inc. and Quest Diagnostics Incorporated regarding evaluation of its HyGnostics Module for commercial-scale diagnostic testing. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for development of potential therapeutic product candidates and diagnostic tests, expansion of the HyGenomics Database, further development of the HyChip Module, investments in capital equipment and leasing of additional space to increase capacity and general corporate purposes, including working capital. |