July 8, 2009 (FinancialWire) — XenoPort, Inc. (NASDAQ: XNPT) announced TODAY the pricing of an underwritten public offering of 2.5 million shares of its common stock at $19 per share in a public offering. Morgan Stanley & Co. (NYSE: MS) and Goldman, Sachs & Co. (NYSE: GS) are acting as joint book-runners.

XenoPort has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of common stock to cover over-allotments, if any.

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

XenoPort 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.

The company’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.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.