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PROSPECTUS SUPPLEMENT No. 2
(TO PROSPECTUS DATED JANUARY 20, 2009)
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Filed Pursuant to Rule 424(b)(3)
under the Securities Act of 1933 in connection with
Registration No. 333-156708 |
ARDEA BIOSCIENCES, INC.
COMMON STOCK
This
prospectus supplement No. 2 supplements and amends the prospectus dated January 20, 2009,
as supplemented, which is referred to herein as the Prior Prospectus, relating to the resale from time to time of up
to 3,421,668 shares of our common stock by the selling stockholders named in the Prior Prospectus
and the selling stockholders donees, pledgees or successors. Of the shares, 2,737,336 were issued
pursuant to a private placement that closed on December 19, 2008, and an additional 684,332 shares
are issuable upon the exercise of warrants sold in the private placement which are first
exercisable beginning June 17, 2009 and expire on December 19, 2013.
This prospectus supplement should be read in conjunction with the Prior Prospectus, which is
to be delivered with this prospectus supplement. This prospectus supplement is not complete
without, and may not be delivered or utilized except in connection with, the Prior Prospectus,
including any amendments or supplements thereto.
We are filing this prospectus supplement to reflect the transfer by each of RA Capital
Healthcare Fund, LP and RA Capital Healthcare Fund II, LP, to OTA, LLC of certain warrants and the
shares that are issuable upon exercise of such warrants, registered for such entities for resale
pursuant to the Prior Prospectus. This prospectus supplement does not
impact any other selling stockholders set forth in the table appearing under the caption Selling
Stockholders on pages 18 to 20 of the Prior Prospectus, which we refer to herein as the Selling
Stockholder Table.
The
Selling Stockholder Table is hereby amended and supplemented by (i) deleting the
contents of footnotes (13) and (14), (ii) adding the
stockholder identified in the table below and the related footnote
set forth below and (iii) changing the Number of Shares Being Offered by RA Capital Healthcare Fund II, LP
and RA Capital Healthcare Fund, LP from 9,231 and 1,221,606, respectively, to 7,385 and 977,285
respectively. For purposes of this prospectus supplement, the
percentage of ownership shown below is based on 17,835,734 shares of our common stock outstanding
as of December 31, 2008.
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Shares |
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Shares of Common |
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Owned After |
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Stock Owned Prior |
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Number of Shares |
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Offering |
Name |
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to Offering |
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Being Offered |
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Number |
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Percent |
OTA, LLC (18) |
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246,167 |
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* |
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(18) |
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Number of shares being offered consists entirely of 246,167 shares of common stock issuable
upon the exercise of warrants acquired by RA Capital Healthcare Fund, LP and RA Capital
Healthcare Fund II, LP in the Private Placement and subsequently sold to OTA, LLC in a private
transaction. OTA, LLC is a registered broker-dealer and Ira Leventhal, a senior managing
director of OTA, LLC has voting and investment control over the
reported securities. |
Information contained in this prospectus supplement regarding selling stockholders is based on
information provided by or on behalf of the selling stockholders, and may change over time.
Investing in our common stock involves a high degree of risk. You are urged to read the
section entitled Risk Factors beginning on page 5 of the Prior Prospectus, as well as the section
entitled Risk Factors included in our recent quarterly and annual reports filed with the
Securities and Exchange
Commission, which describe specific risks and other information that should be considered
before you make an investment decision.
Neither the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus is truthful or
complete. Any representation to the contrary is a criminal offense.
The date of this Prospectus Supplement is July 31, 2009.