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Pricing of its Initial Public Offering 
GERMANTOWN, MD October 17, 2003 Advancis Pharmaceutical Corporation (NASDAQ: "AVNC") 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. The offering is expected to close October 22, 2003. In addition, Advancis has granted the underwriters the right to purchase up to an aggregate of an additional 900,000 shares of common stock to cover over-allotments, if any. The lead manager of the offering is Lehman Brothers Inc. Pacific Growth Equities, LLC and Thomas Weisel Partners LLC are acting as co-managers. Copies of the final prospectus related to the offering may be obtained from Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 631-254-7106. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 15, 2003. The public offering is being made by means of a prospectus. 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. Advancis is a pharmaceutical company focused on developing and commercializing pulsatile drug products that fulfill substantial unmet medical needs in the treatment of infectious disease. |
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