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Barrier Therapeutics, Inc. to Raise $25 Million in Registered
Direct Offering
PRINCETON, NJ, Sep 15, 2006 (MARKET WIRE via COMTEX News
Network) -- Barrier Therapeutics, Inc. (NASDAQ: BTRX), a
pharmaceutical company developing and commercializing products
in the field of dermatology, today announced that it has priced
a registered direct offering of its common stock for
approximately $25 million in gross proceeds. Under the terms of
the financing, Barrier will sell approximately 4.8 million
shares of its common stock at $5.25 per share to a select group
of institutional investors. All shares of the common stock
offered by Barrier Therapeutics are pursuant to an effective
registration statement filed with the Securities and Exchange
Commission on May 17, 2006. The closing of the offering is
scheduled to occur on or about September 20, 2006 and is subject
to customary closing conditions.
Pacific Growth Equities, LLC acted as the sole underwriter for
this offering. Copies of the prospectus supplement and
accompanying base prospectus relating to this offering may be
obtained from Pacific Growth Equities, at One Bush Street, Suite
1700, San Francisco, California 94104.
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
the securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Barrier Therapeutics, Inc.
Barrier Therapeutics, Inc. is a pharmaceutical company focused
on the discovery, development and commercialization of
pharmaceutical products in the field of dermatology. Barrier
Therapeutics currently markets three pharmaceutical products in
the United States: Xolegel(TM) (ketoconazole, USP) Gel, 2%,
Vusion(TM) (0.25% miconazole nitrate, 15% zinc oxide, 81.35%
white petrolatum) Ointment and Solage(R) (mequinol 2.0%,
tretinoin 0.01%) Topical Solution. Barrier has other product
candidates in various stages of clinical development for the
treatment of onychomycosis, psoriasis, acne, and fungal
infections. The Company is headquartered in Princeton, New
Jersey and has wholly owned subsidiaries in Geel, Belgium and
Ontario, Canada.
Contact:
Barrier Therapeutics, Inc.
Anne M. VanLent
609-945-1202
Noonan Russo
Diane Perry
212-845-4239
SOURCE: Barrier Therapeutics, Inc |