July 8, 2009 (FinancialWire) — XenoPort, Inc. (NASDAQ: XNPT) said it is offering to sell 2.5 million shares of its common stock in an underwritten public offering. Morgan Stanley & Co. (NYSE: MS) and Goldman, Sachs & Co. (NYSE: GS) are acting as joint book-runners.

The company plans to grant the underwriters a 30-day option to purchase up to 375,000 additional shares of common stock to cover over-allotments.

All of the shares in the offering are to be sold by XenoPort.

Santa Clara, California-based XenoPort is a biopharmaceutical company focused on developing a portfolio of internally discovered product candidates designed to improve the therapeutic benefits of existing drugs.

The company is developing its lead product candidate, XP13512, in collaboration with Astellas Pharma and GlaxoSmithKline. The Food and Drug Administration is currently reviewing the new drug application for this product candidate as a potential treatment for moderate-to-severe primary restless legs syndrome.

XenoPort’s product candidates are also being studied for the potential treatment of gastroesophageal reflux disease, migraine headaches, neuropathic pain, spasticity related to spinal cord injury, acute back spasms and Parkinson’s disease.

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