Biotech Values

[DewDiligence]

Sirtris Pharmaceuticals Announces Pricing of IPO

[SIRT is clearly one of the most high-profile biotech IPO’s this year. As with any “story stock,” I would be cautious about investing. The stock is currently up about 10% from the IPO price.]

http://biz.yahoo.com/bw/070523/20070523005370.html?.v=1

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Wednesday May 23, 6:00 am ET

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sirtris Pharmaceuticals, Inc. (NASDAQ: SIRT ), a biopharmaceutical company focused on discovering and developing small molecule drugs to treat diseases of aging such as Type 2 Diabetes, today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at $10.00 per share, before underwriting discounts and commissions. All of the common stock is being offered by Sirtris. In addition, Sirtris has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares to cover over-allotments, if any. J.P. Morgan Securities Inc. is acting as the sole book-running manager and CIBC World Markets Corp., Piper Jaffray & Co., JMP Securities LLC, and Rodman & Renshaw, LLC are acting as co-managers for the offering. The shares will trade on the NASDAQ Global Market under the symbol "SIRT."

About Sirtris Pharmaceuticals

Sirtris Pharmaceuticals is a biopharmaceutical company focused on discovering and developing proprietary, orally available, small molecule drugs with the potential to treat diseases associated with aging, including metabolic diseases such as Type 2 Diabetes. Our drug candidates are designed to mimic certain beneficial health effects of calorie restriction, without requiring a change in eating habits, by activation of sirtuins, a recently discovered class of enzymes. The company's headquarters are in Cambridge, Massachusetts.
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