RESEARCH TRIANGLE PARK, N.C., April 1, 2011 (GLOBE NEWSWIRE) -- Tranzyme Pharma (Nasdaq:TZYM - News) announced today the pricing of its initial public offering of 13,500,000 shares of its common stock at $4.00 per share. The shares are expected to begin trading on Monday, April 4, 2011 on The NASDAQ Global Market under the ticker symbol "TZYM." All of the shares in the offering are being offered by the company. The company has granted the underwriters the option to purchase up to an additional 1,481,250 shares at the initial public offering price to cover over-allotments, if any.
Citi is acting as sole book-running manager for the offering. BMO Capital Markets, Canaccord Genuity and Stifel Nicolaus Weisel are acting as co-managers of the offering.
The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from the prospectus department of Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, or email at email@example.com.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a 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 Tranzyme Pharma
Tranzyme Pharma is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel, first-in-class small molecule therapeutics for the treatment of acute (hospital-based) and chronic gastrointestinal motility disorders. All of Tranzyme's product candidates have been discovered using its proprietary drug discovery (chemistry) technology, MATCH(TM), which enables the construction of synthetic libraries of drug-like, macrocyclic compounds in a predictable and efficient manner.
The Tranzyme, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9438
Editor's Note: Tranzyme Pharma remains in a quiet period and is unable to conduct media interviews at this time.
Vipin K. Garg, PhD
President and CEO
Susan P. Sharpe
Corporate Communications Mgr
Lazar Partners, Ltd.