RESEARCH TRIANGLE PARK, N.C., May 5, 2011 (GLOBE NEWSWIRE) -- Tranzyme Pharma (Nasdaq:TZYM), today announced that the underwriters of its recently completed initial public offering (IPO) have partially exercised their option to purchase shares of common stock from Tranzyme to cover over-allotments. The sale of the additional shares closed on May 4, 2011.
Including proceeds from the sale of the additional shares, the net proceeds to Tranzyme from the IPO are expected to be $51.4 million after deducting underwriting discounts and commissions and estimated offering expenses payable by us.
Citi acted as sole book-running manager for the offering. BMO Capital Markets, Canaccord Genuity and Stifel Nicolaus Weisel acted as co-managers of the offering. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 1, 2011. This offering is being made only by means of a prospectus, copies of which may be obtained from the prospectus department of Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, or by emailing a request to batprospectusdept@citi.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Tranzyme Pharma
Tranzyme Pharma is a clinical‑stage biopharmaceutical company focused on discovering, developing and commercializing novel, first-in-class small molecule therapeutics for the treatment of acute (hospital‑based) and chronic gastrointestinal (GI) motility disorders. All of Tranzyme's product candidates have been discovered using its proprietary drug discovery (chemistry) technology, MATCH™, which enables the construction of synthetic libraries of drug-like, macrocyclic compounds in a predictable and efficient manner.
The Tranzyme, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9438