SOUTH SAN FRANCISCO, Calif., March 10, 2015 (GLOBE NEWSWIRE) -- Portola Pharmaceuticals, Inc. (Nasdaq:PTLA) announced today the pricing of its underwritten public offering of 2,495,652 shares of its common stock at a price to the public of $40.00 per share. In addition, the underwriters of the offering have been granted a 30-day option to purchase up to an additional 374,348 shares from Portola at the public offering price. The offering is expected to close on March 13, 2015, subject to customary closing conditions.
Morgan Stanley and Credit Suisse are acting as the joint book-running managers for the offering. Cowen and Company and Sanford C. Bernstein are acting as co-managers. A preliminary prospectus supplement and final prospectus supplement may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at firstname.lastname@example.org or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by email at email@example.com or by toll-free call to (800) 221-1037.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on October 1, 2014. 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 Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals is a biopharmaceutical company developing product candidates that could significantly advance the fields of thrombosis and other hematologic diseases. The Company is advancing its three wholly-owned programs using novel biomarker and genetic approaches that may increase the likelihood of clinical, regulatory and commercial success of its potentially life-saving therapies. Portola's partnered program is focused on developing selective Syk inhibitors for inflammatory conditions.
This announcement contains forward-looking statements, including statements relating to Portola Pharmaceuticals' expectations regarding the completion of the proposed public offering. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. Portola Pharmaceuticals cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. There can be no assurance that Portola Pharmaceuticals will be able to complete the public offering on the anticipated terms, or at all. Risks and uncertainties relating to Portola Pharmaceuticals and its business can be found in the "Risk Factors" section of Portola Pharmaceuticals' Form 10-K for the year ended December 31, 2014 filed with the SEC on March 2, 2015, and in the prospectus supplement related to the offering filed with the SEC. Portola Pharmaceuticals undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Portola Pharmaceuticals' expectations.