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Palo Alto, CA, October 29, 2003 — Telik, Inc. (Nasdaq:
TELK) announced plans to offer 6,000,000 shares of common stock
in an underwritten public offering under its existing shelf registration
statement. Five million of the shares are expected to be offered
by the company, and 1,000,000 shares are expected to be offered
by a corporate selling stockholder. In addition, the underwriters
will have an option to purchase from the company up to an additional
900,000 shares to cover over-allotments, if any.
UBS Investment Bank is acting as the sole book-running manager
on this offering. Lehman Brothers, Bear, Stearns & Co. Inc.,
Needham & Company, Inc., Lazard and Fortis Securities Inc. are
acting as co-managers.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities. This offering
of the shares of common stock may be made only by means of a prospectus,
copies of which can be obtained from UBS Investment Bank, ECMG Syndicate,
299 Park Avenue, New York, NY 10171.
Telik, Inc. of Palo Alto, CA is a biopharmaceutical company working
to discover, develop and commercialize small molecule drugs to treat
serious diseases for which there is significant demand for new therapies.
The company’s most advanced drug development candidates are
for the treatment of cancer and diabetes.
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Contact:
Carol DeGuzman
Senior Director, Corporate Communications
Telik, Inc.
Tel 650-845-7728
Email cdeguzman@telik.com
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