InterMune Announces Pricing of Public Offering of 6,500,000 Shares of Common Stock

 InterMune Announces Pricing of Public Offering of 6,500,000 Shares of Common
                                    Stock

PR Newswire

BRISBANE, Calif., Nov. 5, 2013

BRISBANE, Calif., Nov. 5, 2013 /PRNewswire/ -- InterMune, Inc. (Nasdaq: ITMN)
today announced that it has agreed to sell 6,500,000 shares of its common
stock at a price to the public of $13.00 per share in an underwritten public
offering. InterMune has granted the underwriters a 30-day option to purchase
up to an additional 975,000 shares of common stock in connection with the
offering. InterMune estimates net proceeds from the offering to be
approximately $79.6 million (assuming no exercise of the underwriters' option
to purchase additional shares of common stock), after deducting underwriting
discounts and commissions and estimated offering expenses. InterMune intends
to use the net proceeds from the offering to fund the commercialization of
Esbriet® (pirfenidone) and its ASCEND clinical trial for U.S. registration of
Esbriet, to advance the company's strategic initiatives including its new
Esbriet formulations, its recently launched clinical trials supporting the use
of Esbriet in idiopathic pulmonary fibrosis (IPF) and in potential new
indications, its expanding anti-fibrotic research program with compounds
intended to address IPF and other fibrotic diseases, and for general corporate
purposes. InterMune expects to close this transaction on or about November
12, 2013, subject to satisfaction of customary closing conditions.

Goldman, Sachs& Co. and J. P. Morgan Securities LLC are acting as joint
book-running managers of the offering. JMP Securities LLC, Leerink Swann LLC,
UBS Securities LLC and Wells Fargo Securities, LLC are acting as co-managers
of the offering. The offering is being conducted by means of a prospectus
supplement filed as part of an effective shelf registration statement filed
with the Securities and Exchange Commission (SEC) on Form S-3. Copies of the
preliminary prospectus supplement and the accompanying prospectus relating to
the offering may be obtained from Goldman, Sachs& Co. (Attn: Prospectus
Department, 200 West Street, New York, New York 10282, Fax: 212-902-9316 or
Email at prospectus-ny@ny.email.gs.com or by calling 1-866-471-2526) or J.P.
Morgan Securities LLC (c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 or by calling 866-803-9204). When available,
electronic copies of the prospectus supplement may be obtained by visiting
EDGAR on the SEC's website at http://www.sec.gov/.

This announcement does not constitute an offer to sell or a 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. This press release is being issued pursuant to and in
accordance with Rule 134 under the Securities Act of 1933, as amended. Any
offer, if at all, will be made only by means of a prospectus supplement and
the accompanying prospectus, forming a part of the effective registration
statement.

About InterMune
InterMune is a biotechnology company focused on the research, development and
commercialization of innovative therapies in pulmonology and specialty
fibrotic diseases.

Forward-Looking Statements
This news release contains forward-looking statements, including statements
relating to InterMune's expectations regarding the completion, timing and size
of the proposed public offering and its uses of proceeds from the proposed
offering. These statements are subject to significant risks and
uncertainties, actual results could differ materially from those projected and
InterMune cautions investors not to place undue reliance on the
forward-looking statements contained in this release. These risks and
uncertainties include, without limitation, risks and uncertainties related to
market conditions and satisfaction of customary closing conditions related to
the public offering. There can be no assurance that InterMune will be able to
complete the public offering on the anticipated terms, or at all. If
InterMune is unable to raise additional capital when required or on acceptable
terms, it may have to significantly delay, scale back or discontinue one or
more of its drug development or discovery research programs. Additional risks
and uncertainties relating to InterMune and its business can be found in the
"Risk Factors" section of InterMune's preliminary prospectus supplement
related to the public offering filed with the SEC on November 4, 2013, and in
the prospectus supplement related to the proposed offering that InterMune
expects to file with the SEC on or about November 6, 2013, and in its annual
report on Form 10-K and quarterly reports on Form 10-Q filed with the SEC.
InterMune undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new information, future
events or changes in InterMune's expectations.

SOURCE InterMune, Inc.

Website: http://www.intermune.com
Contact: Jim Goff, InterMune, Inc., 415-466-2228, jgoff@intermune.com
 
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