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PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT:
Kate de Santis
Director, Corporate Communications and Investor Relations
Human Genome Sciences
301/309-8504
HUMAN GENOME SCIENCES
OFFERING SHARES OF ITS COMMON STOCK
ROCKVILLE, Maryland -- October 19, 2000 -- Human Genome Sciences, Inc.
(Nasdaq: HGSI) today announced the commencement of a public offering of
8,000,000 shares of its Common Stock, plus up to 1,200,000 shares to cover
over-allotments, if any. All of the shares are being offered by the Company.
The shares of common stock are being offered by a prospectus supplement
pursuant to the Company's effective shelf registration statement in an offering
being managed by Credit Suisse First Boston and co-managed by Goldman, Sachs &
Co., Lehman Brothers, CIBC World Markets, J.P. Morgan & Co. and Dain Rauscher
Wessels.
HGS expects to use the net proceeds from this offering to continue the
initiation and expansion of laboratory and human studies to evaluate additional
protein-, gene- and antibody-based drugs, to accelerate ongoing research and
development efforts and explore new opportunities in a variety of fields, to
pursue patent coverage for HGS' genes and potential products, to operate and
expand process development and manufacturing facilities, to acquire
complementary products or companies and develop partnerships in other areas of
drug development that further HGS' strategic goal of becoming a
fully-integrated global pharmaceutical company, and for general corporate
purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these shares in
any state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state. A
shelf registration statement relating to the shares that the Company intends to
sell has previously been filed with, and declared effective by, the Securities
and Exchange Commission. Any offer, if at all, will be made only by means of a
prospectus, including a prospectus supplement, forming a part of the effective
registration statement. Copies of a prospectus with respect to this offering
may be obtained from Credit Suisse First Boston, c/o Prospectus Department, 11
Madison Avenue, New York, New York 10010, tel. 212-325-2580
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or by faxing requests to 212-325-8057.
Human Genome Sciences is a company with the mission to treat and cure
disease by bringing new gene-based drugs to patients.
HGS and Human Genome Sciences are registered trademarks of Human
Genome Sciences, Inc.
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The forward-looking
statements are based on Human Genome Sciences' current intent, belief and
expectations. These statements are not guarantees of future performance and are
subject to certain risks and uncertainties that are difficult to predict.
Actual results may differ materially from these forward-looking statements
because of the company's unproven business model, dependence on new
technologies, uncertainty as to clinical trial results, ability to develop and
commercialize products, dependence on collaborators for services and revenue,
substantial indebtedness, intense competition, uncertainty of patent and
intellectual property protection, dependence on key management, uncertainty of
regulation of products, dependence on key suppliers and other risks that may be
described in the company's filings with the Securities and Exchange Commission.
Existing and prospective investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of today's date. Human
Genome Sciences undertakes no obligation to update or revise the information
contained in this announcement whether as a result of new information, future
events or circumstances or otherwise.
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