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Cardiome Announces Proposed Public Offering of Common Shares


VANCOUVER, July 25, 2016 /PRNewswire/ - Cardiome Pharma Corp. ("Cardiome" or the "Company") (NASDAQ: CRME / TSX: COM) announced today that it has commenced a proposed underwritten public offering (the "Offering") of shares of its common stock. In addition, Cardiome expects to grant the underwriters of the Offering a 30-day option to purchase additional shares of its common stock in an amount up to 15% of the shares sold in the Offering on the same terms and conditions.

Leerink Partners LLC is acting as sole book-running manager in connection with the Offering. The pricing of securities will be determined in the course of marketing, and there can be no assurance as to whether or when the Offering will be completed, or as to the actual size or terms of the Offering.

Cardiome intends to use the net proceeds from the Offering for the in-licensing of dalbavancin, including for the upfront licensing fee pursuant to the exclusive license agreement with Allergan plc, and for milestone payments related to pricing reimbursements and launches. Any remaining net proceeds from the Offering will be used for general corporate purposes.

The securities described above are being offered pursuant to a shelf registration statement (including a prospectus) previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on March 2, 2016 and will be qualified for distribution in Canada by way of a final prospectus supplement to the Company's short form base shelf prospectus. A preliminary prospectus supplement and accompanying prospectus relating to the Offering have been filed with the SEC and are available for free on the SEC's website at Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the Offering may be obtained from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, or by phone at 1-800-808-7525, ext. 6142, or by email at The common shares offered and sold pursuant to the Offering will only be offered and sold in the United States.

Closing of the Offering will be subject to customary closing conditions, including listing of the common shares on the TSX and NASDAQ and any required approvals of each exchange.

This communication 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 jurisdiction in which such...