Neothetics Announces Closing of Upsized Initial Public Offering

Print 01 December 2014

SAN DIEGO, Dec. 1, 2014 (GLOBE NEWSWIRE) -- Neothetics, Inc. (Nasdaq:NEOT), a clinical-stage specialty pharmaceutical company developing therapeutics for the aesthetic market, today announced the closing of its initial public offering of 4,650,000 shares of its common stock at an initial public offering price of $14.00 per share. The company originally filed to raise 4,300,000 shares. Neothetics' common stock is listed on The NASDAQ Global Market under the trading symbol "NEOT." All shares of the common stock in this offering were offered by Neothetics. Neothetics estimates net proceeds from the offering to be approximately $60.5 million, after deducting underwriting discounts and commissions and estimated offering expenses.

Piper Jaffray & Co. and Guggenheim Securities, LLC, are acting as joint book-running managers for the offering. Needham & Company is acting as a co-manager.

A registration statement relating to the securities being sold in this offering was declared effective by the U.S. Securities and Exchange Commission on November 19, 2014. This offering was made only by means of a prospectus forming part of the effective registration statement. A copy of the prospectus can be obtained from Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, telephone: (800) 747-3924, email: prospectus@pjc.com or from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, telephone (212) 518-9349 or by email to GSEquityProspectusDelivery@guggenheimpartners.com.

This news 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Neothetics, Inc.

Neothetics is a clinical-stage specialty pharmaceutical company developing therapeutics for the aesthetic market. The lead product candidate, LIPO-202, is for the reduction of subcutaneous fat in the central abdomen in non-obese patients, an indication for which there is no FDA-approved drug. If approved, LIPO-202 may be a best-in-class non-surgical, non-ablative procedure and first-in-class injectable formulation for localized fat reduction and body contouring. For more information on Neothetics, please visit www.neothetics.com.

Neothetics, LIPO-202, LIPO-102 and the Neothetics logo are trademarks or registered trademarks of Neothetics, Inc. Other names and brands may be claimed as the property of others.

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