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Palo Alto, CA, December 4, 2003 — Telik, Inc. (Nasdaq:
TELK) announced that the underwriters of the public offering of
the company's common stock in November 2003 have exercised
in full their option to purchase from the company an additional
1,125,000 shares of Telik common stock, to cover over-allotments,
for sale at a public offering price of $20.00 per share. A total
of 8,625,000 shares were sold in the offering, of which 7,625,000
shares were offered by the company and 1,000,000 shares were offered
by a corporate selling stockholder. Gross proceeds from the offering,
including the over-allotment shares, were $172,500,000, consisting
of gross proceeds of $152,500,000 to Telik and gross proceeds of
$20,000,000 to the corporate selling stockholder. The gross proceeds
of the over-allotment shares were $22,500,000.
UBS Securities LLC acted as the sole book-running manager on this
offering. Lehman Brothers, Bear, Stearns & Co. Inc., Needham
& Company, Inc., Lazard and Fortis Securities Inc. acted 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 was made 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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