Full Press Release Details
VENTRUS BIOSCIENCES ANNOUNCES FULL EXERCISE
OPTION BY UNDERWRITERS
New York, NY, February 7, 2013 - Ventrus Biosciences,
Inc. (Nasdaq: VTUS) today announced that the underwriter of its previously announced public offering of common stock has exercised
in full its overallotment option to purchase an additional 870,000 shares of common stock at the public offering price of $2.50
per share, less underwriting discounts and commissions and offering expenses. The closing of the overallotment option exercise
occurred today, February 7, 2013, and resulted in gross proceeds to the Company of $2,175,000. Exercise of the over-allotment option
increases the gross proceeds to the Company, before any underwriting discounts and commissions and estimated offering expenses,
from $20.0 million to approximately $22.2 million.
William Blair & Company, L.L.C. served as the sole book-running
manager of the public offering.
The offering is being made pursuant to an effective shelf registration
statement previously filed with the U.S. Securities and Exchange Commission. This press release 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. Any offer, if at all, will be made only by means of a prospectus supplement and accompanying prospectus
forming a part of the effective registration statement, copies of which may be obtained, when available, from William Blair &
Company, L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, by telephone at (800) 621-0687, or
by e-mail at prospectus@williamblair.com.
About Ventrus Biosciences
Ventrus is a development stage pharmaceutical
company focused on the development of late-stage prescription drugs for gastrointestinal problems, specifically anal disorders.
Our lead product is topical diltiazem (VEN 307) for the treatment of anal fissures, for which the first Phase 3 trial was initiated
in November 2010, and reported positive top line results in May 2012. The second Phase 3 trial began enrollment in the fourth quarter
of 2012 and is ongoing. Our product candidate portfolio also includes topical phenylephrine (VEN 308) intended to treat fecal incontinence.
VEN 307 and VEN 308 are two molecules that were previously approved and marketed for other indications and that have been formulated
into our in-licensed proprietary topical treatments for these new gastrointestinal indications.
Please Note: The information provided
herein contains estimates and other forward-looking statements regarding future events. Such statements are just predictions and
are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties
include, among others: the estimated proceeds from the offerings and our use of the anticipated proceeds from the offerings; the
components, timing, cost and results of clinical trials and other development activities involving our product candidates; the
unpredictability of the clinical development of our product candidates and of the duration and results of regulatory review of
those candidates by the FDA and foreign regulatory authorities; the unpredictability of the size of the markets for, and market
acceptance of, any of our products; our anticipated capital expenditures, our estimates regarding our capital requirements, and
our need for future capital; our reliance on our lead product candidate, VEN 307; our ability to retain and hire necessary employees
and to staff our operations appropriately; and the possible impairment of, or inability to obtain, intellectual property rights
and the costs of obtaining such rights from third parties. The reader is referred to the documents that we file from time to time
with the Securities and Exchange Commission.
Ventrus Biosciences, Inc.