Underwriters for Somaxon Pharmaceuticals Inc. on Wednesday set the terms of
the company's pending initial public offering at 5 million common shares with
an estimated price range of $13 to $15 a share. On Oct. 7, Somaxon filed an
IPO to sell up to $86.25 million in common stock but didn't detail the terms
of the offering. According to an amended Form S-1 filed with the Securities
and Exchange Commission, Somaxon expects to use net proceeds from the IPO to
fund clinical trials for its three development programs, for marketing, general
and administrative expenses and for other research and development expenses.