ITEM 5. OTHER EVENTS
MedImmune, Inc. reported the information contained in the following press
release dated February 17, 2000.
MEDIMMUNE'S BOARD OF DIRECTORS AUTHORIZES
THREE-FOR-ONE STOCK SPLIT
Gaithersburg, MD, February 17, 2000 -- MedImmune, Inc. (Nasdaq: MEDI) today
announced that its Board of Directors has declared a three-for-one split of the
company's common stock, payable in the form of a 200-percent stock dividend. The
stock split is contingent upon shareholder approval to increase the number of
authorized shares of common stock from 120,000,000 to 320,000,000, an action
that will be voted on at the Annual Meeting of Shareholders on May 18, 2000. If
approved, stockholders will receive two additional shares for every share they
own as of the close of business on May 18, 2000. Distribution of shares would
occur on or about June 2, 2000. As of December 31, 1999, MedImmune had
approximately 67.9 million shares of common stock outstanding.
"MedImmune continues to believe that an expanding shareholder base is an
essential element of sustained corporate growth," commented Dr. Wayne T.
Hockmeyer, chairman and chief executive officer. "We have seen significant
growth in shareholder value since our previous stock split, and hope that this
split will make it possible for many more people to be a part of the continued
growth of both the company and the biotechnology industry."
MedImmune, Inc. is a fully integrated biotechnology company focused on
developing and marketing products that address medical needs in areas such as
infectious disease, immune regulation and cancer. Headquartered in Gaithersburg,
Maryland, MedImmune has manufacturing facilities in Frederick, Maryland and
Nijmegen, The Netherlands, and an oncology subsidiary in West Conshohocken,
Pennsylvania.
This announcement may contain, in addition to historical information, certain
forward-looking statements that involve risks and uncertainties. Such statements
reflect management's current views and are based on certain assumptions. Actual
results could differ materially from those currently anticipated as a result of
a number of factors, including risks and uncertainties discussed in the
company's filings with the U.S. Securities and Exchange Commission. MedImmune
cautions that RSV disease occurs primarily during the winter months; the company
believes its operating results will reflect that seasonality for the foreseeable
future. The company is also developing several products for potential future
marketing. There can be no assurance that such development efforts will succeed,
that such products will receive required regulatory clearance or that, even if
such regulatory clearance were received, such products would ultimately achieve
commercial success.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MEDIMMUNE, INC.
---------------
(Registrant)
February 25, 2000
By:
/s/David M. Mott
----------------
David M. Mott, Vice Chairman and
Chief Financial Officer
