AUSPEX ANNOUNCES PRICING OF FOLLOW ON OFFERING

LA JOLLA, Calif., Jan. 23, 2015 (GLOBE NEWSWIRE) -- Auspex Pharmaceuticals, Inc. (Nasdaq:ASPX), a biopharmaceutical company dedicated to developing innovative medicines for people with movement disorders and other rare diseases, today announced the pricing of its underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $56.50 per share. Auspex is offering 3,000,000 shares of common stock and certain existing stockholders of Auspex are offering 1,000,000 shares of common stock. The gross proceeds to Auspex from this offering are expected to be approximately $169.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Auspex. In addition, the underwriters of the offering have been granted a 30-day option to purchase from Auspex up to an additional 600,000 shares of common stock, on the same terms and conditions. Auspex will not receive any proceeds from the sale of the shares by the selling stockholders. J.P. Morgan Securities LLC is sole book-running manager for the offering. In addition, Stifel and BMO Capital Markets Corp. are acting as co-lead managers, and Robert W. Baird & Co. Incorporated and William Blair and Company, L.L.C., are acting as co-managers. Maxim Group LLC is acting as an advisor to Auspex.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on January 22, 2015. The offering will be made only by means of a prospectus. A copy of the final prospectus relating to the offering, when available, may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone number: 866-803-9204).

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.

CONTACT: Corporate Communications Contact:
                For Media:
                Dan Budwick, Pure Communications, Inc.
                dan@purecommunicationsinc.com
                973 271-6085

                For Investors:
                Monique Allaire Lyons, Pure Communications, Inc.
                 monique@purecommunicationsinc.com
                617 895-9511