BLUE BELL, PA November
26,
2003
--
InKine
Pharmaceutical
Company,
Inc.
(Nasdaq:
INKP) today announced that it has filed a
registration statement on Form S-3 with the Securities
and Exchange Commission relating to a proposed public
offering of 10,000,000 shares of common stock. InKine
has also granted
the underwriters
an option to purchase an additional 1,500,000 shares
to cover over-allotments.
UBS Securities
LLC, First Albany Capital and Rodman & Renshaw,
Inc. are the underwriters for the proposed offering. UBS
Securities LLC is the sole book-running manager. When
available,
copies
of a preliminary prospectus may be obtained from UBS Securities
LLC, 299 Park Avenue, New York, NY 10171.
A registration
statement
relating
to these
securities
has been
filed with
the Securities and Exchange Commission, but has not yet become
effective. These securities may not be sold nor may offers
to buy be accepted
prior to
the time the registration statement becomes effective. This
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.
About InKine Pharmaceutical
InKine Pharmaceutical Company, Inc. is a publicly traded
specialty pharmaceutical company focused on developing and commercializing
pharmaceutical products for the diagnosis and treatment of gastrointestinal
disorders. The Company's development strategy is to acquire late-stage drug
candidates with short time lines to commercialization. The Company's franchise
product, Visicol ® is the only tablet purgative preparation indicated
for bowel cleansing prior to colonoscopy. InKine's second product, IB-Stat ® ,
is an oral hyoscyamine spray for the treatment of a variety of indications. Additionally,
the Company is developing Colirest(TM), which is in clinical trials for the treatment
of Crohn's disease. For further information, please visit InKine on its web
site http://www.inkine.com .
In addition to historical facts or statement of current condition, this press release may contain forward-looking statements. Forward-looking statements provide InKine's current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, sales and earnings projections, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning. InKine's performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties such as those set forth in its reports on Form 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, InKine does not intend (and it is not obligated) to update publicly any forward-looking statements. This discussion is permitted by the Private Securities Litigation Reform Act of 1995.
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