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BEDFORD, MA November 5, 2003 NitroMed, Inc. (Nasdaq: NTMD) today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at $11.00 per share, before underwriting discounts and commissions. In addition, the Company has granted the underwriters an option to purchase up to an additional 900,000 shares to cover over-allotments, if any. Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. are joint book-running managers for the offering. Pacific Growth Equities, LLC acted as co-managing underwriter for the offering. NitroMed's common stock is expected to begin trading November 6th on the NASDAQ National Market under the symbol "NTMD." Copies of the final prospectus relating to this offering may be obtained by writing to Deutsche Bank Securities Inc., 60 Wall Street, 4th Floor, New York, NY 10005 or J.P. Morgan Securities Inc., One Chase Manhattan Plaza, New York, NY 10081. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 5, 2003. The public offering is being made by means of a prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. NitroMed is an emerging pharmaceutical company that discovers, develops and seeks to commercialize proprietary pharmaceuticals based on the therapeutic benefits of the naturally-occurring molecule nitric oxide. The Company utilizes its nitric oxide expertise and technology in an effort both to develop novel pharmaceuticals and to improve the safety and efficacy of widely-prescribed drugs. The Company's research and development efforts focus on major diseases that are characterized by a deficiency in nitric oxide, such as cardiovascular and inflammatory diseases, and which present large market opportunities. This press release contains forward-looking statements that involve significant risks and uncertainties, including those discussed in this release and others that can be found in the "Risk Factors" section of NitroMed's Registration Statement on Form S-1 on file with the SEC. NitroMed is providing this information as of this date and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. Prior to this offering there has not been a public market for NitroMed's common stock. There can be no assurance that an active trading market for the common stock will develop following this offering. The market price of NitroMed's common stock may be highly volatile. No forward-looking statement can be guaranteed and actual results may differ materially from those the Company projects. The Company is at an early stage of development and may not ever have any products that generate significant revenue. |
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