News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Celladon Corporation Announces Commencement Of Public Offering Of Common Stock



8/7/2014 8:01:27 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

SAN DIEGO, Aug. 7, 2014 (GLOBE NEWSWIRE) -- Celladon Corporation (Nasdaq:CLDN), a clinical-stage biotechnology company applying its leadership position in the field of gene therapy and calcium dysregulation, today announced that it is offering to sell 4,000,000 shares of its common stock in an underwritten public offering. In connection with this offering, Celladon will also grant to the underwriters a 30-day option to purchase up to an aggregate of 600,000 additional shares of common stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Celladon anticipates using the net proceeds from the offering to fund research and development activities related to its lead product candidate, MYDICAR, including activities related to seeking regulatory approval for MYDICAR and its companion diagnostic for the treatment of systolic heart failure and other indications, for the development of commercial manufacturing capabilities, and for working capital and general corporate purposes.

Credit Suisse and Jefferies LLC are acting as joint book-running managers for the offering and Stifel and Wedbush PacGrow Life Sciences are acting as co-managers.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC), but has not yet been declared effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from Credit Suisse Securities (USA) LLC at Eleven Madison Avenue, New York, NY 10010, Attn: Prospectus Department, by calling toll free 1-800-221-1037, or by e-mail at newyork.prospectus@credit-suisse.com, or alternatively from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 1-877-547-6340, or by email at Prospectus_Department@Jefferies.com

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or 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 jurisdiction.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements relating to Celladon's expectations regarding the completion, timing and size of its proposed public offering. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering, as well as risks and uncertainties associated with Celladon's business and finances in general, and the other risks described in Celladon's annual report on Form 10-K for the year ended December 31, 2013, quarterly report on Form 10-Q for the quarter ended June 30, 2014 and other filings with the SEC. Celladon undertakes no obligation to update the statements contained in this press release after the date hereof.

CONTACT: For further information, please contact: Fredrik Wiklund Vice President, Corporate Development and Investor Relations +1-858-432-7215 fwiklund@celladon.com

Celladon Corporation Logo

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES