AUSPEX ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING AND EXERCISE IN FULL OF UNDERWRITERS' OVER-ALLOTMENT OPTION

LA JOLLA, Calif., Feb. 10, 2014 /PRNewswire/ -- Auspex Pharmaceuticals, Inc., a biopharmaceutical company focused on developing and commercializing novel medicines for the treatment of orphan diseases, today announced today announced the completion of its initial public offering of 8,050,000 shares of its common stock at an initial public offering price of $12.00 per share. This includes the exercise in full by the underwriters of their option to purchase up to 1,050,000 additional shares of common stock. Auspex's common stock is listed on the NASDAQ Global Market under the trading symbol "ASPX." Auspex expects to use the net proceeds from the offering primarily for the clinical development and commercialization of SD-809, as well as for general corporate purposes.

The joint book-running managers for the offering were Stifel and BMO Capital Markets. In addition, Robert W. Baird & Co. Incorporated, William Blair and Company, L.L.C. and Ladenburg Thalmann & Co. Inc. acted as co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 4, 2014. The offering was made by means of a prospectus, copies of which may be obtained from Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, CA 94104, Attention: Syndicate, by telephone at (415) 364-2720 or by email to SyndicateOps@stifel.com, or from BMO Capital Markets Corp., 3 Times Square, 27(th) Floor, New York, NY 10036, Attention: Equity Syndicate Department, by telephone at (800) 414-3627 or by email to bmoprospectus@bmo.com.

This news 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Auspex Pharmaceuticals
Auspex Pharmaceuticals is a privately held biopharmaceutical company focused on the treatment of orphan diseases, especially hyperkinetic movement disorders resulting from Huntington's Disease, tardive dyskinesia, and Tourette's Syndrome. Auspex's lead compound, SD-809, is a novel inhibitor of the vesicular monoamine transporter 2 (VMAT-2). This investigational new drug, currently in a pivotal Phase 3 study for the treatment of movement disorders associated with Huntington Chorea, offers potential advantages over existing therapies including more consistent blood levels, reduced drug-drug interactions, obviating the need for genotyping of patients, and less frequent dosing. Auspex has employed its deuterium chemistry approach to optimize drugs in several other therapeutic areas including the treatment of fibrotic diseases, autoimmune diseases, neuropathic pain, and an antiplatelet medication. For further information, please visit the company's website www.auspexpharma.com.

SOURCE Auspex Pharmaceuticals

CONTACT: Jason Spark at Canale Communications, Inc., jason@canalecomm.com, 619-849-6005

Web site: http://www.auspexpharma.com