DANBURY, Conn., June 18, 2013 (GLOBE NEWSWIRE) -- Biodel Inc. (Nasdaq:BIOD) today announced that it is offering to sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. In addition, Biodel intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares sold to cover overallotments, if any. All of the shares in this offering are to be sold by Biodel.
William Blair & Company, L.L.C. is acting as the sole book-running manager of the offering and Ladenburg Thalmann & Co. Inc. is acting as co-underwriter for the offering.
The shares will be issued pursuant to a shelf registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission. Biodel has also filed with the Securities and Exchange Commission a preliminary prospectus supplement with respect to the offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Biodel, nor shall there be any offer or sale of securities in any state or jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of a prospectus supplement and accompanying prospectus forming a part of the effective registration statement, copies of which may be obtained, when available, from William Blair & Company, L.L.C. at 222 West Adams Street, Chicago, IL 60606, Attention: Prospectus Department, by telephone at (800) 621-0687, or by email at prospectus@williamblair.com.
About Biodel Inc.
Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes that may be safer, more effective and more convenient for patients. Biodel Inc. develops its product candidates by applying its proprietary formulation technologies to existing drugs in order to improve their therapeutic profiles.
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