WAUKEGAN, Ill.--(BUSINESS WIRE)--Jan. 5, 2006--NeoPharm, Inc. (Nasdaq/NM:NEOL) today announced the pricing of an underwritten public offering of 3,500,000 shares of its common stock pursuant to an effective shelf registration statement. UBS Investment Bank acted as sole manager for the offering. The price to the public is $10.20 per share. NeoPharm intends to use the net proceeds from the offering to fund clinical trials of its lead product candidates, cintredekin besudotox (IL13-PE38QQR) and Liposomal Paclitaxel Easy-To-Use (LEP-ETU), and for clinical and pre-clinical studies for its other product candidates; for potential licenses and acquisitions of other businesses or complementary products and technologies; and for working capital, capital expenditures and other general corporate purposes. The Company has granted the underwriter an option to purchase an additional 525,000 shares to cover over-allotments in the offering. All of the shares in the offering are being sold by NeoPharm, Inc.
