Auspex Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares

LA JOLLA, Calif., Jan. 28, 2015 (GLOBE NEWSWIRE) -- Auspex Pharmaceuticals, Inc. (Nasdaq:ASPX), a biopharmaceutical company dedicated to developing innovative medicines for people with movement disorders and other rare diseases, today announced the closing of its previously announced underwritten public offering of 4,600,000 shares of its common stock at a public offering price of $56.50 per share. This includes the exercise in full by the underwriters of their option to purchase up to 600,000 additional shares of common stock. Auspex sold 3,600,000 shares of common stock and certain existing stockholders of Auspex sold 1,000,000 shares of common stock. The gross proceeds to Auspex from this offering were approximately $203.4 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Auspex. Auspex did not receive any proceeds from the sale of the shares by the selling stockholders.

J.P. Morgan Securities LLC acted as sole book-running manager for the offering. In addition, Stifel and BMO Capital Markets Corp. acted as co-lead managers, and Robert W. Baird & Co. Incorporated and William Blair and Company, L.L.C. acted as co-managers. Maxim Group LLC acted as an advisor to Auspex.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 22, 2015. The offering was made by means of a prospectus, copies of which may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone number: 866-803-9204).

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.

CONTACT: Corporate Communications Contact: For Media: Dan Budwick, Pure Communications, Inc. dan@purecommunicationsinc.com (973) 271-6085 For Investors: Monique Allaire Lyons, Pure Communications, Inc. monique@purecommunicationsinc.com (617) 895-9511

Source:Auspex Pharmaceuticals, Inc.