SAN DIEGO, Nov. 19, 2014 (GLOBE NEWSWIRE)
Neothetics, Inc. (Nasdaq:NEOT), a clinical-stage specialty pharmaceutical company developing therapeutics for the aesthetic market, today announced the pricing of its initial public offering of 4,650,000 shares of its common stock at a public offering price of $14.00 per share. In addition, Neothetics has granted the underwriters a 30-day option to purchase up to an additional 697,500 shares of common stock at the same price to cover over-allotments, if any. All shares of the common stock in this offering are being sold by Neothetics. The shares are scheduled to begin trading on The NASDAQ Global Market on November 20, 2014 under the symbol "NEOT." The offering is expected to close on November 25, 2014, subject to customary closing conditions.
Piper Jaffray & Co. and Guggenheim Securities, LLC, are acting as joint book-running managers for the offering. Needham & Company is acting as a co-manager.
This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Neothetics, Inc.
Neothetics is a clinical-stage specialty pharmaceutical company developing therapeutics for the aesthetic market. The lead product candidate, LIPO-202, is for the reduction of subcutaneous fat in the central abdomen in non-obese patients, an indication for which there is no FDA-approved drug. If approved, LIPO-202 may be a best-in-class non-surgical, non-ablative procedure and first-in-class injectable formulation for localized fat reduction and body contouring. For more information on Neothetics, please visit www.neothetics.com.
Neothetics, LIPO-202, LIPO-102 and the Neothetics logo are trademarks or registered trademarks of Neothetics, Inc. Other names and brands may be claimed as the property of others.
Susan A. Knudson
Chief Financial Officer