Auspex Announces Proposed Public Offering of Common Stock

LA JOLLA, Calif., Jan. 21, 2015 (GLOBE NEWSWIRE) -- Auspex Pharmaceuticals, Inc. (Nasdaq: ASPX), a biopharmaceutical company dedicated to developing innovative medicines for people with movement disorders and other rare diseases, today announced that it has commenced an underwritten public offering of 4,000,000 shares of its common stock. The offering is expected to consist of 3,000,000 shares of common stock to be offered by Auspex and 1,000,000 shares of common stock to be offered by selling stockholders. In addition, the company is expected to grant the underwriters of the offering an option for a period of 30 days to purchase from Auspex up to an additional 600,000 shares of common stock, on the same terms and conditions. 

The offering is subject to market and other conditions, and there can be no assurance as to when or whether the offering may be completed. Auspex will not receive any proceeds from the sale of the shares by the selling stockholders. 

J.P. Morgan Securities LLC is acting as sole book-running manager for the proposed offering. Stifel and BMO Capital Markets Corp. are acting as co-lead managers, and Robert W. Baird & Co. Incorporated and William Blair and Company, L.L.C., are acting as co-managers.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This offering is being made only by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone number: 866-803-9204).

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 these 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.

CONTACT: Corporate Communications Contact:
         For Media:
         Dan Budwick, Pure Communications, Inc.
         [email protected]
         (973) 271-6085

         For Investors:
         Monique Allaire Lyons, Pure Communications, Inc.
         [email protected]
         (617) 895-9511

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