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TELIK ANNOUNCES PROPOSED PUBLIC OFFERING OF COMMON STOCK
Palo Alto, CA, January 24, 2005 — Telik, Inc. (Nasdaq: TELK) today announced
that it plans to file a prospectus supplement with the Securities and
Exchange Commission related to an underwritten offering of 5,000,000 shares
of its common stock under an existing shelf registration statement. In
connection with the offering, Telik expects to grant the underwriters a
30-day option to purchase up to 750,000 additional shares to cover
over-allotments, if any.
UBS Investment Bank is acting as the sole book-running manager in this
offering. J.P. Morgan Securities Inc. and Lehman Brothers are acting as
co-managers.
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 in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state. A
prospectus supplement relating to these securities will be filed with the
Securities and Exchange Commission. This offering of the shares of common
stock may be made only by means of the prospectus supplement and related
prospectus, a copy of which will be available from UBS Investment Bank,
Prospectus Department, 299 Park Avenue, New York, NY 10171.
Telik, Inc. of Palo Alto, CA is a biopharmaceutical company working to
discover, develop and commercialize innovative small molecule drugs to treat
diseases. The company’s most advanced drug development candidates are for
the treatment of cancer.
Contact:
Carol DeGuzman
Senior Director, Corporate Communications
Telik, Inc.
Tel 650-845-7728
Email cdeguzman@telik.com
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