Guilford Pharmaceuticals Inc. Announces Proposed Offering of Common Stock

Guilford Pharmaceuticals Inc. Announces Proposed Offering of
Common Stock 


BALTIMORE, June 21  /PRNewswire-FirstCall/ -- Guilford Pharmaceuticals Inc.
(Guilford) (NASDAQ:GLFD) today announced that it plans to file a prospectus
supplement with the Securities Exchange Commission related to an underwritten
offering of 10,000,000 shares of its common stock under an existing shelf
registration statement. In connection with the offering, Guilford expects to
grant the underwriters an option to purchase up to 1,500,000 additional shares
to cover over-allotments.

UBS Investment Bank is acting as sole book-running manager in this offering.
CIBC World Markets Corp and Citigroup Global Market Inc. are acting as
co-managers.

Guilford Pharmaceuticals Inc.

Guilford Pharmaceuticals Inc. is a pharmaceutical company engaged in the
research, development and commercialization of products that target the
hospital market. Presently, Guilford markets two commercial products,
GLIADEL(R) Wafer (polifeprosan 20 with carmustine implant), for the treatment
of brain cancer, and AGGRASTAT(R) Injection (tirofiban hydrochloride), a
glycoprotein GP IIb/IIIa receptor antagonist used for the treatment of acute
coronary syndrome (ACS). Guilford's product pipeline includes a novel
anesthetic, AQUAVAN(R) Injection. For additional information about GLIADEL(R)
Wafer, please visit http://www.guilfordpharm.com/ under Products / Marketed
Products/ GLIADEL; and for AGGRASTAT(R), please see http://www.aggrastat.com/ .

Contact: Stacey Jurchison, Director, Corporate Communications 410-631-5022

http://www.guilfordpharm.com/ .

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 in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. A prospectus
supplement relating to these securities will be filed with the Securities and
Exchange Commission. This offering of the shares of common stock may be made
only by means of the prospectus supplement and related prospectus, a copy of
which will be available from UBS Investment Bank, ECMG Syndicate, 299 Park
Avenue, New York, NY 10171. 

DATASOURCE: Guilford Pharmaceuticals Inc.



CONTACT:  Stacey Jurchison, Director, Corporate Communications of

Guilford Pharmaceuticals Inc., [phone], fax, [phone] or

 



Web site:  http://www.guilfordpharm.com/ 



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