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Palo Alto, CA, February 9, 2005 — Telik, Inc. (Nasdaq: TELK) today announced that the underwriters of the public offering of the company's common stock in January 2005 have exercised in full their option to purchase an additional 1,050,000 shares of Telik common stock, to cover over-allotments. The shares were offered at a public offering price of $18.75 per share. A total of 8,050,000 shares were sold in the offering. Gross proceeds from the offering, including the over-allotment shares, were $150,937,500.
UBS Investment Bank acted as the sole book-running manager in this offering. J.P. Morgan Securities Inc. and Lehman Brothers acted as co-managers.
A registration statement relating to these securities was filed with and has been declared effective by the Securities and Exchange Commission. This press release does 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. This offering of the shares of common stock was made by means of a prospectus supplement and related prospectus, a copy of which can be obtained from UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171.
Telik, Inc. of Palo Alto, CA is a biopharmaceutical company working to discover, develop and commercialize innovative small molecule drugs to treat diseases. The company's most advanced drug development candidates are for the treatment of cancer.
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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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