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 15, 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 15, 2000 announcing
Item 7. Financial Statements and Exhibits.
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(c) Exhibits
99.1 Press release dated February 15, 2000 announcing the issuance of an
additional $50 million of convertible subordinated notes by the Company.
<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 15, 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
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
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INCYTE
John Vuko
Chief Financial Officer
(650) 845-4106
Teresa Gaines
Media Relations
(650) 621-8711
INCYTE ANNOUNCES INCREASE IN OFFERING SIZE
AND COMPLETION OF CONVERTIBLE NOTE OFFERING
PALO ALTO, CALIFORNIA, FEBRUARY 15, 2000 - Incyte Pharmaceuticals, Inc. (Nasdaq:
INCY) announced today that its recent private placement of 5.5% Convertible
Subordinated Notes Due 2007 has been increased by $50 million to a total of $200
million principal amount of Notes. The initial purchasers exercised their
option to purchase the additional $50 million of Notes, and the offering has
been completed. The Notes are convertible into Incyte common stock at an
initial conversion price of approximately $134.84 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 Notes 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 Quarterly
Report on Form 10-Q for the quarter ended September 30, 1999. Incyte disclaims
any intent or obligation to update these forward-looking statements.
