SOUTH SAN FRANCISCO, Calif., Oct. 17, 2013 (GLOBE NEWSWIRE) -- Portola Pharmaceuticals, Inc. (Nasdaq:PTLA) announced today the pricing of its underwritten public offering of 6,366,513 shares of its common stock at a price to the public of $23.75 per share. Portola is offering 4,457,710 shares of common stock, and certain existing stockholders of Portola are offering 1,908,803 shares of common stock. Portola will not receive any proceeds from the sale of shares by the selling stockholders. In addition, the underwriters of the offering have been granted a 30-day option to purchase up to an additional 954,976 shares from Portola at the public offering price. The offering is expected to close on October 22, 2013, subject to customary closing conditions. Morgan Stanley and Credit Suisse are acting as the joint book-running managers for the offering. Cowen and Company, William Blair and Sanford C. Bernstein are acting as co-managers. This offering will be made only by means of a prospectus, copies of which may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at firstname.lastname@example.org or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, by email at email@example.com or by toll-free call to (800) 221-1037. A registration statement relating to these securities has been filed with, and was declared effective by, the Securities and Exchange Commission on October 16, 2013. This press release 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 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. About Portola Pharmaceuticals, Inc. Portola Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel therapeutics in the areas of thrombosis, other hematologic disorders and inflammation. Portola's wholly-owned lead compound, Betrixaban, is a novel, oral, once-daily Factor Xa inhibitor in Phase 3 development for extended-duration prophylaxis of a form of thrombosis known as venous thromboembolism (VTE) in acute medically ill patients. Currently, there is no anticoagulant approved for extended-duration VTE prophylaxis in this population. Portola's second lead development candidate, Andexanet alfa (PRT4445*), has the potential to be the first universal antidote to reverse the effects of Factor Xa inhibitors in patients who suffer an uncontrolled bleeding episode or trauma, or who require emergency surgery. Portola retains full, worldwide commercial rights to Andexanet alfa. Portola's third product candidate, PRT2070, is an orally available kinase inhibitor that uniquely inhibits two validated tumor proliferation pathways -- spleen tyrosine kinase (Syk) and janus kinase (JAK). It is currently being studied in patients with genetically-defined hematologic cancers, as well as for patients who have failed therapy due to relapse or acquired mutations. Portola's fourth program is partnered with Biogen Idec and is focused on the development of PRT2607, a selective Syk inhibitor. Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the completion of the offering. Risks that contribute to the uncertain nature of the forward-looking statements include uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all. These and other risks and uncertainties are described more fully in Portola's filings with the Securities and Exchange Commission, including without limitation its Registration Statement on Form S-1 (No. 333-191609), which was originally filed with the Securities and Exchange Commission on October 7, 2013. All forward-looking statements contained in this press release speak only as of the date on which they were made. Portola undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.