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Pfenex Inc. Announces Pricing Of Follow-on Offering

SAN DIEGO, April 24, 2015 /PRNewswire/ -- Pfenex Inc. (NYSE MKT: PFNX) a clinical-stage biotechnology company engaged in the development of biosimilar therapeutics including high value and difficult to manufacture proteins, today announced the pricing of its follow-on public offering of 6,000,000 shares of its common stock at a price to the public of $15.50 per share. Of the shares being offered, 2,610,000 are being offered by Pfenex and the remaining 3,390,000 shares are being offered by existing stockholders. Pfenex will not receive any proceeds from the shares sold by existing stockholders. In addition, the underwriters have a 30-day option to purchase up to 750,000 additional shares of common stock from certain existing stockholders.

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Barclays Capital Inc., Evercore Group L.L.C., and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. 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.

The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone: (888) 603-5847 or email: barclaysprospectus@broadridge.com; Evercore Group L.L.C. Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone: (212) 653-9054, or email: ECM@evercore.com; or from William Blair & Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, by telephone: (800) 621-0687, or email: prospectus@williamblair.com.

About Pfenex Inc.

Pfenex Inc. is a clinical-stage biotechnology company engaged in the development of biosimilar therapeutics and high-value and difficult to manufacture proteins. The company's lead product candidate is PF582, a biosimilar candidate to Lucentis (ranibizumab), for the potential treatment of patients with retinal diseases. Pfenex has leveraged its Pfēnex Expression Technology® platform to build a pipeline of product candidates and preclinical products under development including other biosimilars, as well as vaccines, generics and next generation biologics. 

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SOURCE Pfenex Inc.

For further information: Company Contact: Paul Wagner, Ph.D., Chief Financial Officer, (858) 352-4333, pwagner@pfenex.com; Investor Contact: Westwicke Partners, LLC, Robert H. Uhl, Managing Director, (858) 356-5932, robert.uhl@westwicke.com