Cadence Pharmaceuticals, Inc. Announces Completion of Public Offering of Common Stock, Including Full Exercise of Over-Allotment Option by Underwriters

SAN DIEGO, Nov. 22, 2011 /PRNewswire/ -- Cadence Pharmaceuticals, Inc. (Nasdaq: CADX) today announced the closing of its previously announced public offering of 21,800,000 shares of its common stock, including 2,800,000 shares sold pursuant to the full exercise of an over-allotment option previously granted to the underwriters, at a public offering price of $3.75 per share. The net proceeds from the offering, after deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $77.4 million.

Deutsche Bank Securities Inc. acted as sole book-running manager, Leerink Swann LLC acted as co-lead manager and Cowen and Company, LLC acted as co-manager for the offering.

The securities described above were offered by Cadence pursuant to a shelf registration statement that had been previously filed with, and declared effective by, the Securities and Exchange Commission (the "SEC"). A final prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Floor 2, Jersey City, NJ 07311-3901, or by telephone at: (800) 503-4611, or by email at: prospectus.cpdg@db.com. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, 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 the registration or qualification under the securities laws of any such state or other jurisdiction.

About Cadence Pharmaceuticals, Inc.

Cadence Pharmaceuticals is a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary products principally for use in the hospital setting.

Forward-Looking Statements

Statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as "plans," "believes," "expects," "anticipates," and "will," and similar expressions, are intended to identify forward-looking statements, and are based on Cadence's current beliefs and expectations. Such statements include, but are not limited to, statements regarding the expected net proceeds from the offering. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties, including, without limitation, those associated with Cadence's actual offering expenses, as well as those inherent in Cadence's business and finances in general, including the risks detailed in Cadence's prior press releases as well as in Cadence's periodic and other public filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Cadence undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.

SOURCE Cadence Pharmaceuticals, Inc.