XenoPort plans follow-on offering of 4.5 million shares via Morgan Stanley

By Ronda Fears

Memphis, June 6 - XenoPort, Inc. announced Tuesday plans to sell 4.5 million shares in a follow-on offering via bookrunner Morgan Stanley & Co. Inc.

Deutsche Bank Securities Inc. and Pacific Growth Equities, LLC are co-managers for the offering.

There is a greenshoe for 675,000 shares available.

Santa Clara, Calif.-based XenoPort is focused on developing a portfolio of product candidates that use the body's natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs.

XenoPort's most advanced product candidate, XP13512, has begun a phase 3 trial for the treatment of Restless Legs Syndrome and has successfully completed a phase 2a trial for the management of post-herpetic neuralgia. XenoPort has also completed two phase 1 trials of its second product candidate, XP19986, and reported preliminary positive results of a phase 2a clinical trial of XP19986 in Gastroesphageal Reflux Disease, or GERD, patients.

XenoPort stock closed at $20.58 on Tuesday.

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