Discovery Labs Announces Completion of $50 Million Public Offering

      Discovery Labs Announces Completion of $50 Million Public Offering

PR Newswire

WARRINGTON, Pa., Nov. 5, 2013

WARRINGTON, Pa., Nov. 5, 2013 /PRNewswire/ -- Discovery Laboratories, Inc.
(NASDAQ: DSCO) today announced that it has completed its previously announced
public offering to sell an aggregate of 25million shares of its common stock
under Discovery Labs' previously filed registration statement declared
effective by the Securities and Exchange Commission on June 21, 2011. Each
share was issued and sold at a public offering price of $2.00 per share.

Discovery Labs has received net proceeds of approximately $47 million, after
deducting underwriting discount and other estimated fees and expenses related
to the offering. The net proceeds will be used primarily (i) to support the
commercial introduction of SURFAXIN^® drug product, (ii) to advance the
AEROSURF^® development program, including a planned phase 2 clinical program
and (iii) for general corporate purposes.

Stifel and Piper Jaffray & Co. acted as joint bookrunning managers for the
offering, Lazard Capital Markets LLC acted as co-lead manager and Roth Capital
Partners, LLC acted as co-manager. Copies of the final prospectus supplement
and accompanying base prospectus relating to this offering may be obtained at
the Securities and Exchange Commission web site at, or from
Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery
Street, Suite 3700, San Francisco, California 94104 or via telephone at (415)
364-2500 or from Piper Jaffray & Co., Attention: Prospectus Department, 800
Nicollet Mall, J12S03,Minneapolis, MN55402 or by telephone at 800-747-3924
or by email at

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities of Discovery Laboratories, Inc., nor shall
there be any sale of 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.

About Discovery Labs

Discovery Laboratories, Inc. is a specialty biotechnology company focused on
advancing a new standard in respiratory critical care. Discovery Labs'
technology platforms include a novel proprietary KL[4] surfactant, a
synthetic, peptide-containing surfactant that is structurally similar to
pulmonary surfactant, and proprietary drug delivery technologies being
developed to enable efficient delivery of aerosolized KL[4] surfactant and
other inhaled therapies. Discovery Labs' strategy is initially focused on
neonatology and improving the management of respiratory distress syndrome
(RDS) in premature infants. Discovery Labs believes that its RDS product
portfolio has the potential to become the new standard of care for RDS and,
over time, enable the treatment of a significantly greater number of premature
infants who could benefit from surfactant therapy but are currently not

For more information, please visit the Company's website at

Forward-Looking Statements

To the extent that statements in this press release are not strictly
historical, all such statements are forward-looking, and are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from the
statements made. Examples of such risks and uncertainties, including those
related to Discovery Labs' securities offering and its development programs,
are described in Discovery Labs' filings with the Securities and Exchange
Commission including the most recent reports on Forms 10-K, 10-Q and 8-K, and
any amendments thereto.

SOURCE Discovery Laboratories, Inc.

Contact: Company, John Tattory, Vice President of Finance, Discovery Labs -
215.488.9418 or Investor Relations, Michael Rice, LifeSci Advisors -
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