Portola Pharmaceuticals Announces Proposed Offering of Common Stock For Gross Proceeds Of $160M

Portola Pharmaceuticals, Inc.

today announced that it has commenced an underwritten public offering of shares of its common stock and expects to raise gross proceeds of approximately $160,000,000. All of the shares of common stock in the offering will be sold by Portola Pharmaceuticals. Subject to market and other conditions, the offering is expected to price before 9:30 a.m., EDT, on October 3, 2014. Morgan Stanley and Credit Suisse are acting as the joint book-running managers for the offering. A registration statement related to the offering has been filed with the Securities and Exchange Commission. A preliminary prospectus supplement and final prospectus supplement, when available, may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by email at newyork.prospectus@credit-suisse.com or by toll-free call to (800) 221-1037. 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. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.