FDAnews Drug Daily Bulletin

SGX PHARMA FILES IPO FOR UP TO $80.5 MILLION IN COMMON STOCK

Sept. 6, 2005
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SGX Pharmaceuticals Inc. filed an initial public offering Friday to sell up to $80.5 million in common stock, according to a Form S-1 filed with the Securities and Exchange Commission. Details about the number of shares offered and estimated price range for the IPO weren't disclosed in Friday's filing. The company said it will use net proceeds from the IPO for the clinical development of Troxatyl and further development of its research programs and initial clinical development stemming from its internal programs. Net proceeds will also be used for working capital and general corporate purposes and potential acquisition and in-licensing activities, the filing said.

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