Calypte Biomedical Raises an Additional $1.5 Million in Private Placement
13 Julho 2004 - 10:30AM
PR Newswire (US)
Calypte Biomedical Raises an Additional $1.5 Million in Private
Placement PLEASANTON, Calif., July 13 /PRNewswire-FirstCall/ --
Calypte Biomedical Corporation (OTC:CYPT) (BULLETIN BOARD: CYPT)
announced today that it has raised an additional $1.5 million in a
private placement to accredited investors. The Company has issued
3.7 million shares of its common stock at $0.40 per share and
five-year warrants to purchase 2.6 million shares of its common
stock at $0.50 per share. The proceeds are expected to be used
primarily for general working capital purposes. The Company plans
to file a registration statement in connection with the private
placement to register the shares of common stock issued and the
shares of common stock underlying the warrants granted. About
Calypte Biomedical: Calypte Biomedical Corporation, headquartered
in Pleasanton, California, is a public healthcare company dedicated
to the development and commercialization of in vitro diagnostic
tests, primarily for the detection of antibodies to Human
Immunodeficiency Virus (HIV), and other sexually transmitted and
infectious diseases. Calypte's currently marketed laboratory- based
tests include an enzyme immunoassay (EIA) HIV-1 antibody screening
test and an HIV-1 antibody western blot supplemental test, the only
two FDA- approved HIV-1 antibody tests for use on urine samples, as
well as an FDA- approved serum HIV-1 antibody western blot
supplemental test. Calypte is actively engaged in developing new
test products for the rapid detection of HIV and other infectious
diseases. Calypte believes that there is a significant need for
rapid detection of such diseases globally to control their
proliferation, particularly in lesser-developed countries, which
lack the medical infrastructure to support laboratory-based
testing. Calypte believes that testing for HIV and other infectious
diseases may make important contributions to public health.
Statements in this press release that are not historical facts are
forward-looking statements within the meaning of the Securities Act
of 1933, as amended. Those statements include statements regarding
the intent, belief or current expectations of the Company and its
management. Such statements reflect management's current views, are
based on certain assumptions and involve risks and uncertainties.
Actual results, events, or performance may differ materially from
the above forward-looking statements due to a number of important
factors, and will be dependent upon a variety of factors,
including, but not limited to, the Company's ability to obtain
additional financing and access funds from its existing financing
arrangements that will allow it to continue its current and future
operations and whether demand for its test products in domestic and
international markets will continue to expand. The Company
undertakes no obligation to publicly update these forward-looking
statements to reflect events or circumstances that occur after the
date hereof or to reflect any change in the Company's expectations
with regard to these forward-looking statements or the occurrence
of unanticipated events. Factors that may impact the Company's
success are more fully disclosed in the Company's most recent
public filings with the U.S. Securities and Exchange Commission
("SEC"), including its annual report on Form 10-KSB for the year
ended December 31, 2003 and its subsequent filings with the SEC.
Company Contact: Richard Brounstein, CFO (925) 730-7200 email:
Investor Relations Contact: Tim Clemensen, Rubenstein Investor
Relations Phone: 212-843-9337 Email: DATASOURCE: Calypte Biomedical
Corporation CONTACT: Richard Brounstein, CFO of Calypte Biomedical
Corporation, +1-925-730-7200, ; or Tim Clemensen of Rubenstein
Investor Relations, +1-212-843-9337, for Calypte Biomedical
Corporation Web site: http://www.calypte.com/
Copyright