REDWOOD CITY, Calif., May 14 /PRNewswire-FirstCall/ -- Genomic Health, Inc. today announced that it intends to offer to sell, subject to market and other conditions, 3,000,000 shares of its common stock in an underwritten public offering. The company intends to grant the underwriters an option for a period of 30 days to purchase up to 450,000 additional shares of common stock to cover any overallotments. All of the shares will be offered by the Company.
J.P. Morgan Securities Inc. is acting as sole book-running manager of the offering, and Lehman Brothers Inc. is acting as co-lead manager. Piper Jaffray & Co. and JMP Securities LLC are acting as co-managers.
The company currently expects to use the net proceeds of this offering for general corporate purposes, including expanding its selling and marketing capabilities, funding research and development activities and expanding its laboratory operations.
The offering is being made pursuant to the Company's effective shelf registration statement. Copies of the preliminary prospectus supplement and related prospectus relating to the proposed offering may be obtained from J.P. Morgan's prospectus department at 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department.
This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction.
About Genomic Health
Genomic Health, Inc. is a life science company focused on the development and commercialization of genomic-based clinical diagnostic tests for cancer that allow physicians and patients to make individualized treatment decisions. In 2004, Genomic Health launched its first test, Oncotype DX(TM), which is used for early stage breast cancer patients to predict the likelihood of cancer recurrence, the likelihood of patient survival within ten years of diagnosis and the likelihood of chemotherapy benefit. The company was founded in 2000 and is located in Redwood City, California. For more information, please visit www.genomichealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "believes," "anticipates," "plans," "expects," "will," "intends" and other similar expressions, and include statements about the proposed public offering of our common stock and the anticipated use of proceeds from the offering. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions; satisfaction of the conditions to the closing of the proposed offering; our ability to increase usage of our tests; the risk that we may not obtain or maintain sufficient levels of reimbursement for our existing tests and any future tests we may develop; the risks and uncertainties associated with the regulation of our test by FDA; unanticipated costs in research and development efforts or other unanticipated cash requirements; and the other risks discussed in our Annual Report on Form 10-K for the year ended December 31, 2006 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2007. These forward- looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.
NOTE: Genomic Health, the Genomic Health logo, Oncotype, Oncotype DX and Recurrence Score are trademarks or registered trademarks of Genomic Health, Inc. All other trademarks and service marks are the property of their respective owners.
Genomic Health, Inc.CONTACT: Brad Cole, +1-650-569-2281, investors@genomichealth.com, ormedia, Emily Faucette, +1-650-569-2824, media@genomichealth.com, both ofGenomic Health, Inc.
Web site: http://www.genomichealth.com//
