Hyperion Therapeutics Announces Pricing of Initial Public Offering

July 26, 2012

South San Francisco, CA — Hyperion Therapeutics, Inc. (NASDAQ:HPTX) announced today the pricing of its initial public offering of 5,000,000 shares of its common stock at $10.00 per share, before underwriting discounts and commissions. All of the common stock is being offered by Hyperion. In addition, the underwriters have a 30-day option to purchase up to an additional 750,000 shares of common stock from Hyperion to cover over-allotments, if any.

Shares of Hyperion’s common stock will trade on the NASDAQ Global Select Market under the symbol “HPTX” beginning on July 26, 2012. The offering is expected to close on July 31, 2012, subject to customary closing conditions.

Leerink Swann LLC and Cowen and Company, LLC are serving as joint book-running managers for the proposed offering. Needham & Company, LLC is acting as a co-manager for the proposed offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 25, 2012. This offering is being made only by means of a prospectus, copies of which may be obtained from Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by calling (800) 808-7525, and Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by calling (631) 274-2806, or faxing (631) 254-7140.

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 other 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 other jurisdiction.

About Hyperion Therapeutics
Hyperion Therapeutics is a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat disorders in the areas of orphan diseases and hepatology. Hyperion is developing Ravictiâ„¢ (glycerol phenylbutyrate) for two orphan indications: urea cycle disorders (UCD) and hepatic encephalopathy.

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