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Foamix Pharmaceuticals Ltd. Announces Closing of Initial Public Offering

REHOVOT, Israel, and BRIDGEWATER, N.J., Sept. 23, 2014 (GLOBE NEWSWIRE) -- Foamix Pharmaceuticals Ltd. (Nasdaq:FOMX), ("Foamix Pharmaceuticals" or "Foamix"), a clinical stage specialty pharmaceutical company focused on developing and commercializing its proprietary topical foams to address unmet needs in dermatology, with its lead product minocycline foam for the treatment of acne, impetigo and other skin conditions, today announced the closing of its initial public offering. A total of 6.7 million ordinary shares were sold at a price to the public of $6.00 per share. In addition, Foamix has granted the underwriters a 30 day option to purchase up to 1,005,000 additional ordinary shares. The shares are trading on the NASDAQ Global Market under the ticker symbol "FOMX." The net proceeds from the sale of shares, after deducting underwriting discounts, commissions and other estimated offering expenses, will be approximately $35.7 million.

Barclays Capital Inc. and Cowen and Company, LLC acted as joint book-running managers for the offering. Oppenheimer & Co. Inc. and Maxim Group LLC acted as co-managers.

The offering of these securities has been made only by means of a written prospectus. A copy of the prospectus related to the offering may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1 (888) 603-5847, or by emailing: Barclaysprospectus@broadridge.com; or Cowen and Company, LLC, c/o Broadridge Financial Services, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 631-274-2806, fax: 631-254-7140.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission. 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 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.

About Foamix Pharmaceuticals Ltd.

Foamix Pharmaceuticals is a clinical-stage specialty pharmaceutical company focused on developing and commercializing its proprietary minocycline foam for the treatment of acne, impetigo and other skin conditions. Foamix Pharmaceuticals' lead product candidates, FMX101 for moderate-to-severe acne and FMX102 for impetigo, are novel topical foam formulations of the antibiotic minocycline. Foamix Pharmaceuticals also has early-stage stable foam formulations of various drugs for the treatment of common dermatological indications.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" relating to future events. Forward-looking statements are based on Foamix Pharmaceuticals' current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors. The forward-looking statements made herein speak only as of the date of this release and Foamix Pharmaceuticals undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.

CONTACT: Dov Tamarkin, CEO Foamix Pharmaceuticals Ltd. +972-8-9316233 dov@foamix.co.il U.S. Investor Relations Michael Rice LifeSci Advisors, LLC 646-597-6979 mrice@lifesciadvisors.comSource:Foamix, Ltd.