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SciClone Pharmaceuticals, Inc.: SciClone Pharmaceuticals, Inc. Files Shelf Registration Statement

^{Published on 2009-05-20 13:18:50, Last Modified on 2009-05-20 13:20:19 - Market Wire}
 

FOSTER CITY, CA--(Marketwire - May 20, 2009) - SciClone Pharmaceuticals, Inc. (NASDAQ: [ SCLN ]) has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC"). When the shelf registration statement is declared effective by the SEC, it will allow SciClone to periodically sell, in one or more offerings, up to $50 million of securities, with the amount that SciClone expects to be able to offer in the next twelve month period limited to approximately $21.8 million, subject to changes in the trading price of SciClone's common stock.

Specific terms and share prices will be determined at the time of each offering under a separate prospectus supplement to be filed with the SEC at the time of each offering. SciClone has not made a decision to make any offering at this time.

"As outlined in today's SEC filing, SciClone plans to use proceeds of any offering for general corporate purposes including, in particular, potential product acquisitions to build on our international sales platform," stated Gary S. Titus, Senior Vice President, Finance and Chief Financial Officer of SciClone. "Once the registration statement becomes effective, it will offer us additional flexibility in accessing capital markets over a 3 year period when market conditions are favorable and our strategic needs warrant such access."

The shelf registration statement filed by SciClone with the SEC has not yet become effective. No securities covered by the registration statement may be sold prior to its effectiveness, nor may offers to buy those securities be accepted before that time, and no securities will be offered unless and until SciClone determines to proceed with an offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities covered by the registration statement. Any offer of those securities may be made solely by means of the prospectus included in the registration statement and the prospectus supplement for any future offering.

Because the publicly-traded float (as used by the SEC) of SciClone's shares of approximately $65.4 million as of May 19, 2009 is less than $75 million, unless and until SciClone's public float exceeds $75 million, SciClone will be restricted to selling securities registered under the shelf registration statement equal to no more than 1/3 of the value of its public float (such limit equaling, as of May 19, 2009, approximately $21.8 million) in any consecutive twelve month period.

About SciClone

SciClone Pharmaceuticals (NASDAQ: [ SCLN ]) is a profit-driven, global biopharmaceutical company with a substantial international business and a product portfolio of novel therapies for cancer and infectious diseases. SciClone is focused on achieving international sales growth, a cost-containing clinical development strategy and expense management. ZADAXIN is sold in over 30 countries for the treatment of hepatitis B (HBV) and hepatitis C (HCV), certain cancers and as a vaccine adjuvant. SciClone's pipeline of phase 2 and 3 drug candidates includes thymalfasin for stage IV melanoma, for which SciClone has reached agreement with the FDA on the design of a phase 3 trial; RP101 in a phase 2 trial for the treatment of pancreatic cancer; SCV-07 in a phase 2 trial for the delay of onset of severe oral mucositis in patients receiving chemoradiation therapy for the treatment of cancers of the head and neck; phase 2 trial of SCV-07 for the treatment of HCV; and, awaiting approval in China, DC Bead™ for the treatment of liver cancer. For additional information, please visit [ www.sciclone.com ].

Forward-Looking Statements

This press release contains forward-looking statements regarding development objectives and timing expectations. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "might," "believes," "estimates," "projects," "potential," "expects," "potential," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. These statements are subject to risks and uncertainties that are difficult to predict and actual outcomes may differ materially. These risks and uncertainties include our ability to identify and consummate our previously-announced goals of acquiring additional products to sell, either through licensing or the acquisition of businesses. Please also refer to other risks and uncertainties described in SciClone's filings with the SEC. All forward-looking statements are based on information currently available to SciClone and SciClone assumes no obligation to update any such forward-looking statements.