SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
____________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: FEBRUARY 23, 2000
(Date of earliest event reported)
INCYTE PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-27488 94-3136539
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3174 PORTER DRIVE, PALO ALTO, CALIFORNIA 94304
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (650) 855-0555
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Item 5. Other Events.
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Attached hereto as Exhibit 99.1 and incorporated by reference herein is the
press release dated February 23, 2000 announcing the Company's issuance of
2,000,000 of its common stock to selected institutional investors at a price of
$211 per share.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits
99.1 Press release dated February 23, 2000 announcing the Company's issuance
of 2,000,000 of its common stock to selected institutional investors at a price
of $211 per share.
<PAGE>
SIGNATURE
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.
Dated: February 23, 2000
INCYTE PHARMACEUTICALS, INC.
By /s/ John M. Vuko
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Name: John M. Vuko
Title: Executive Vice President and
Chief Financial Officer
<PAGE>
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
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INCYTE
John Vuko
Chief Financial Officer
(650) 845-4106
INCYTE ANNOUNCES $422 MILLION PRIVATE PLACEMENT
PALO ALTO, CALIFORNIA, FEBRUARY 23, 2000 - Incyte Pharmaceuticals, Inc. (Nasdaq:
INCY) announced today that it has entered into a definitive purchase agreement
for the sale of two million shares of newly issued common stock to selected
institutional investors for $422 million. The purchase price is $211.00 per
share.
Incyte stated that it expects to use the net proceeds of the offering for
working capital and general corporate purposes. Proceeds may also be used to
make strategic investments, acquire or license technology or products, or
acquire businesses that may complement its business.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy any security. The shares have not been registered under the
Securities Act of 1933 or applicable state securities laws and may not be
offered or sold in the United States absent registration under the Securities
Act and applicable state securities laws or an applicable exemption from the
registration requirements.
Except for the historical information contained herein, the matters set forth in
this press release, such as statements as to the expected use of net proceeds,
are forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that may cause
actual results to differ materially, including the impact of alternative
technological advances and competition, changes in the focus of Incyte's
research and development activities, developments in litigation, and other risks
detailed from time to time in Incyte's SEC reports, including its Current Report
on Form 8-K dated February 22, 2000. Incyte disclaims any intent or obligation
to update these forward-looking statements.
