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Palo Alto, CA, November 6, 2003 — Telik, Inc. (Nasdaq:
TELK) announced the pricing of its public offering of 7,500,000
shares of its common stock at a price of $20.00 per share. Six million,
five hundred thousand of the shares are being offered by Telik,
and 1,000,000 shares are being offered by a corporate selling stockholder.
In addition, the underwriters will have an option to purchase from
the company up to an additional 1,125,000 shares to cover over-allotments,
if any.
UBS Securities LLC 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.
A registration statement relating to these securities was filed
with and has been declared effective by the U.S. Securities and
Exchange Commission. This press release does not constitute an offer
to sell or the solicitation of an offer to buy any of the securities
of Telik, and there shall be no sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. 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 Securities LLC, 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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