Advancis Pharmaceutical Closes Private Placement of Common Equity
14 Dezembro 2006 - 8:42PM
PR Newswire (US)
GERMANTOWN, Md., Dec. 14 /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, resulting in the
receipt of $18 million in gross proceeds. The Company intends to
use the proceeds from the financing to prepare for the potential
commercial launch of Amoxicillin PULSYS, to continue product
development initiatives of its other pulsatile product candidates,
and for working capital and general corporate purposes. The shares
sold in the private placement 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 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. 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. Actual results
realized by Advancis could differ materially from 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) reach
profitability, (2) prove that the preliminary findings for its
product candidates are valid, (3) receive required regulatory
approvals, (4) successfully conduct clinical trials in a timely
manner with favorable results, (5) establish its competitive
position for its products, (6) develop and commercialize products
that are superior to existing or newly developed competitor
products, (7) develop products without any defects, (8) have
sufficient capital resources to fund its operations, (9) protect
its intellectual property rights and patents, (10) implement its
sales and marketing strategy, (11) successfully attract and retain
collaborative partners, (12) successfully commercialize and gain
market acceptance for its Keflex products, and (13) 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/
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