Advancis Pharmaceutical Closes Private Placement of Common Equity Raising $24 Million
18 Abril 2007 - 3:03PM
PR Newswire (US)
GERMANTOWN, Md., April 18 /PRNewswire-FirstCall/ -- Advancis
Pharmaceutical Corporation (NASDAQ:AVNC), a pharmaceutical company
focused on developing and commercializing novel anti-infective
products, today announced that it has closed its previously
announced private placement of common stock and warrants, resulting
in the receipt of $24 million in gross proceeds. The Company
intends to use the proceeds from the financing to support the
regulatory approval process of its Amoxicillin PULSYS product
candidate and for working capital and general corporate purposes.
The shares sold in the private placement and the shares issuable
upon the exercise of the related warrants have not been registered
under the Securities Act of 1933, as amended, or state securities
laws, and may not be offered or sold in the United States without
being registered with the Securities and Exchange Commission
("SEC") or through an applicable exemption from SEC registration
requirements. The shares and warrants were offered and sold only to
institutional and accredited investors. The Company has agreed to
file a registration statement with the SEC covering the resale of
the common stock issued in the private placement and issuable upon
the exercise of the warrants. This news release is not an offer to
sell or the solicitation of an offer to buy the shares of the
Company. This announcement contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements are based on Advancis' current
expectations and assumptions. These statements are not guarantees
of future performance and are subject to a number of risks and
uncertainties that would cause actual results to differ materially
from those anticipated. The words, "believe," "expect," "intend,"
"anticipate," and variations of such words, and similar expressions
identify forward-looking statements, but their absence does not
mean that the statement is not forward- looking. Completion of the
financing described in this news release is subject to customary
closing conditions. If any of the conditions to closing are not
satisfied, the closing may not be completed. The actual results
realized by Advancis could differ materially from these
forward-looking statements, depending in particular upon the risks
and uncertainties described in the Company's filings with the
Securities and Exchange Commission. These include, without
limitation, risks and uncertainties relating to the Company's
financial results and the ability of the Company to (1) raise
additional capital and continue as an ongoing concern, (2) increase
Keflex 750mg capsules sales, (3) obtain FDA approval for its
Amoxicillin PULSYS product candidate, (4) successfully reduce
costs, (5) maintain compliance with its outstanding credit facility
with Merrill Lynch Capital, (6) reach profitability, (7) prove that
the preliminary findings for its product candidates are valid, (8)
receive required regulatory approvals, (9) successfully conduct
clinical trials in a timely manner, (10) establish its competitive
position for its products, (11) develop and commercialize products
that are superior to existing or newly developed competitor
products, (12) develop products without any defects, (13) have
sufficient capital resources to fund its operations, (14) protect
its intellectual property rights and patents, (15) implement its
sales and marketing strategy, (16) successfully attract and retain
collaborative partners, (17) successfully commercialize and gain
market acceptance for its Keflex products, (18) successfully obtain
sufficient manufactured quantities of its drug products at
acceptable rates, and (19) retain its senior management and other
personnel. Existing and prospective investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of today's date. Advancis undertakes no obligation to
update or revise the information in this announcement, whether as a
result of new information, future events or circumstances or
otherwise. DATASOURCE: Advancis Pharmaceutical Corporation CONTACT:
Robert C. Low, Vice President, Finance & CFO, +1-301-944-6690,
, or Robert Bannon, Vice President, Investor Relations,
+1-301-944-6710, , both of Advancis Pharmaceutical Corp. Web site:
http://www.advancispharm.com/
Copyright
Advancis (NASDAQ:AVNC)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Advancis (NASDAQ:AVNC)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024