Orchid BioSciences Goes Public

On May 5, Orchid BioSciences Inc. (Princeton, NJ) carried out an initial public offering (IPO) of 6 million shares of common stock, at an IPO price of $8.00 per share. The shares are traded on the Nasdaq National Market under the symbol "ORCH."

Underwriters for the offering were Credit Suisse First Boston, Robertson Stephens, and Salomon Smith Barney. Orchid granted the underwriters an option to purchase up to an additional 900,000 shares of common stock to cover over-allotments, if any.

Orchid is a provider of products, services, and technologies for single nucleotide polymorphism (SNP) scoring and genetic diversity analyses. Orchid has patented SNP analysis technologies, SNP-IT, that rapidly generate highly accurate SNP information at a significantly lower cost than conventional systems. SNP-IT, which can be automated, is usable in environments ranging from small-scale laboratories to large commercial facilities, and is also adaptable to a wide variety of instrument platforms.

For more information: Orchid BioSciences Inc., 303 College Road East, Princeton, NJ 08540. Tel: 609-750-2200. Fax: 609-750-2250.

Edited by Jim Pomager