MALVERN, Pa., June 26 /PRNewswire-FirstCall/ -- Auxilium Pharmaceuticals, Inc. announced today that it has filed a registration statement on Form S-3 with the Securities and Exchange Commission on behalf of certain investors pursuant to its obligations under a 2003 Investor Rights Agreement. Once declared effective, the registration statement will register the proposed offer and sale of up to 16,965,297 shares of Auxilium common stock, including 14,801,282 shares of Auxilium common stock currently outstanding and held by the investors identified in the registration statement and 2,164,015 shares of common stock issuable upon exercise of warrants held by these investors. The shares of common stock and warrants were previously issued by Auxilium to the investors in private placement transactions and, prior to effectiveness of the registration statement, are transferable only in transactions that comply with Rule 144 and other exemptions from the registration requirements of the Securities Act of 1933.
"We have an excellent shareholder base who have supported us since our inception," said Jim Fickenscher, Auxilium's Chief Financial Officer. "The initial request to register the shares and shares underlying the warrants was made by a shareholder who has already liquidated most of its position. We are happy to honor this request, and the subsequent requests made by the other shareholders who held unregistered securities to register their shares at the same time."
The registration statement relating to these securities 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 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 in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Auxilium will not receive any proceeds from the sale of shares by the investors.
About Auxilium
Auxilium Pharmaceuticals, Inc. is a specialty pharmaceutical company with a focus on developing and marketing products for urology, sexual health and other indications within specialty markets. Auxilium markets Testim(R) 1%, a topical testosterone gel, for the treatment of hypogonadism through its approximately 130-person sales and marketing team. Auxilium has five projects in clinical development. Auxilium believes that AA4500, an injectable enzyme, has completed Phase II of development for the treatment of Dupuytren's Disease and is in Phase II of development for the treatment of Peyronie's Disease and Frozen Shoulder Syndrome (Adhesive Capsulitis). Auxilium's testosterone replacement transmucosal film product candidate for the treatment of hypogonadism (AA2600) has commenced Phase III of development and should commence pivotal Phase III trials later this month. Auxilium's transmucosal film product candidate for the treatment of overactive bladder (AA4010) is in Phase I of development. Auxilium has two pain products using its transmucosal film delivery system in pre-clinical development. Auxilium has rights to six additional pain products and products for hormone replacement and urologic disease using its transmucosal film delivery system, options to all indications using AA4500 for non-topical formulations, and other products for urology and sexual health. For additional information, visit http://www.auxilium.com/.
Safe Harbor Statement
This release contains "forward-looking-statements" within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the filing of a registration statement on Form S-3 by Auxilium on behalf of certain selling stockholders, the declaration of the effectiveness of the registration statement by the Securities and Exchange Commission, the anticipated sale of Auxilium common stock by certain selling stockholders pursuant to the registration statement once it has become effective, the timing for the commencement of various clinical trials for Auxilium's product candidates, including AA4500, during 2006, and products in development for pain, urology and sexual health. All statements other than statements of historical facts contained in this release, including but not limited to, statements regarding future expectations, plans and prospects for the Company, financial guidance and other statements containing the words "believe," "may," "could," "will," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," and similar expressions, as they relate to the Company, constitute forward-looking statements. Actual results may differ materially from those reflected in these forward-looking statements due to various factors, including general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries and those discussed in the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2006 under the heading "Risk Factors", which is on file with the Securities and Exchange Commission (the "SEC") and may be accessed electronically by means of the SEC's home page on the Internet at http://www.sec.gov/ or by means of the Company's home page on the Internet at http://www.auxilium.com/ under the heading "Investor Relations - SEC Filings." There may be additional risks that the Company does not presently know or that the Company currently believes are immaterial which could also cause actual results to differ from those contained in the forward-looking statements. 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.
In addition, forward-looking statements provide the Company's expectations, plans or forecasts of future events and views as of the date of this release. The Company anticipates that subsequent events and developments will cause the Company's assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this release.
