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Anacor Pharmaceuticals, Inc. Completes $70 Million Initial Public Offering and Concurrent Private Placement


12/1/2010 6:43:26 AM

PALO ALTO, Calif.--(BUSINESS WIRE)-- Anacor Pharmaceuticals, Inc. (NASDAQ:ANAC - News) today announced the completion of its initial public offering of 12,000,000 shares of its common stock at a price of $5.00 per share. In addition, Anacor has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of its common stock at the initial public offering price, less the underwriting discount, to cover over-allotments, if any.

Concurrent with the completion of the initial public offering, Anacor completed a private placement of 2,000,000 shares of common stock, at a price of $5.00 per share, to affiliates of an existing investor in Anacor.

The gross proceeds, before expenses, from the sale of shares in the initial public offering and the concurrent private placement are $70.0 million, and the net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, are $64.2 million. These amounts exclude any potential proceeds from the underwriters’ over-allotment option, which may be exercised by the underwriters on or prior to December 23, 2010.

Citi and Deutsche Bank Securities Inc. acted as joint book-running managers for the initial public offering, and Cowen and Company, LLC and Wedbush PacGrow Life Sciences acted as co-managers for the initial public offering. The initial public offering was made only by means of a prospectus. Copies of the prospectus relating to the initial public offering may be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220, or by calling (800) 831-9146 or emailing a request to batprospectusdept@citi.com and from Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Floor 2, Jersey City, NJ 07311, or by calling (800) 503-4611 or emailing a request to prospectusrequest@list.db.com.

The U.S. Securities and Exchange Commission declared a registration statement relating to these securities effective on November 23, 2010. This press 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 other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Anacor Pharmaceuticals

Anacor is a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. Anacor has discovered and is developing five clinical compounds, including its three lead programs: AN2690, a topical antifungal for the treatment of onychomycosis; AN2728, a topical anti-inflammatory PDE-4 inhibitor for the treatment of psoriasis; and GSK 2251052, or GSK '052 (formerly referred to as AN3365), a systemic antibiotic for the treatment of infections caused by Gram-negative bacteria, which has been licensed to GlaxoSmithKline under the companies' research and development agreement. In addition, Anacor is developing AN2718 as a topical antifungal product candidate for the treatment of onychomycosis and skin fungal infections, and AN2898 as a topical anti-inflammatory product candidate for the treatment of psoriasis and atopic dermatitis.


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