Human Genome Sciences Offers 12.5 Million Common Shares

December 1, 2009 (FinancialWire) — Human Genome Sciences, Inc. (NASDAQ: HGSI) has launched an underwritten public offering of up to 12.5 million shares of its common stock. Goldman, Sachs (NYSE: GS) and Citigroup Global Markets (NYSE: C) are acting as joint book-running managers.

The company plans to grant the underwriters a 30-day option to purchase up to an additional 1.875 million shares of the company’s common stock.

Human Genome said it currently expects to use the net proceeds from this offering for general corporate purposes, including acquisition of additional manufacturing capacity and development of new indications for BENLYSTA, as well as potential sales and marketing activities, clinical trial, research and development, general and administrative and manufacturing expenses and the potential retirement of debt.

The company said it may also use a portion of the proceeds for strategic investments.

Human Genome Sciences is a commercially focused biopharmaceutical company. The company has products in late-stage clinical development, including ZALBIN for chronic hepatitis C and BENLYSTA for systemic lupus erythematosus.

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