Somatogen Files Registration Statement for Proposed Public Offering

Strategic Insights -

Biopharmaceutical company Somatogen, Inc. announced on September 18, 1995, that it has filed a Registration Statement with the Securities and Exchange Commission for a proposed public offering of 2,500,000 shares of Common Stock. The company intends to use the net proceeds from the offering to fund recombinant hemoglobin research and development activities, expand clinical trials of its OptroTM product, improve manufacturing processes, and broaden its product and technology portfolio.

The proposed public offering is co-managed by Montgomery Securities, Donaldson, Lufkin & Jenrette Securities Corporation, and Lehman Brothers Inc. Somatogen, a biopharmaceutical company, is engaged in the research, clinical development, and commercialization of genetically engineered recombinant human hemoglobin-based products.

Key Takeaways:

  • Somatogen filed a Registration Statement with the Securities and Exchange Commission for a proposed public offering of 2,500,000 shares of Common Stock.
  • The net proceeds from the offering will be used for recombinant hemoglobin research and development activities, to expand clinical trials of OptroTM, and for other general corporate purposes.
  • Montgomery Securities, Donaldson, Lufkin & Jenrette Securities Corporation, and Lehman Brothers Inc. will co-manage the offering.
  • A Registration Statement relating to these securities has been filed but has not yet become effective.
  • Somatogen is a biopharmaceutical company engaged in the research, clinical development, and commercialization of genetically engineered recombinant human hemoglobin-based products.
  • The company's OptroTM product is currently undergoing clinical trials.

Statistics:

  • 2,500,000 shares of Common Stock will be offered in the proposed public offering.
  • The company intends to use the net proceeds from the offering for various research and development activities.

Sources:

  • Regina M. Ashley, 'Somatogen Files Plan for Offering 2.5 Million Shares', San Francisco Chronicle, September 19, 1995.
  • AP News Wire, 'Somatogen Files Plans for Public Offering', September 18, 1995.
  • Somatogen, Inc., 'Somatogen Files Registration Statement for Proposed Public Offering', Press Release, September 18, 1995.