Marshall Edwards, Inc. Raises Approximately $14 Million in Private Equity Financing
July 12 2006 - 10:42AM
PR Newswire (US)
WASHINGTON and SYDNEY, Australia, July 12 /PRNewswire-FirstCall/ --
Marshall Edwards, Inc. (NASDAQ:MSHL) announced today that it
entered into definitive agreements for an approximately $14 million
private placement consisting of 4,950,001 shares of common stock
and warrants to purchase 1,732,499 shares of common stock at a
purchase price of $2.90 per unit. The warrants are exercisable
beginning January 11, 2007 and ending on July 11, 2010. The
exercise price of the warrants is $4.35 per share. Marshall Edwards
has agreed to file a resale registration statement in connection
with the private placement. Marshall Edwards intends to use the
proceeds from the private placement to fund certain clinical trials
and pre- clinical development and for general corporate purposes.
About Marshall Edwards, Inc. Marshall Edwards, Inc. is a US
clinical development oncology company and is majority owned by
Novogen Limited (NASDAQ:NVGN)(ASX:Novogen), an Australian
biotechnology company specializing in the development of a range of
therapeutics across the fields of oncology, cardiovascular disease
and inflammatory diseases. More information on the Novogen group of
companies can be found at http://www.marshalledwardsinc.com/ and
http://www.novogen.com/. This news release does not constitute an
offer to sell or the solicitation of an offer to buy any
securities. The common stock and warrants sold in the offering have
not been registered under the Securities Act of 1933, as amended
(the "Securities Act"), or any state securities laws and may not be
offered or sold in the United States absent registration or an
applicable exemption from registration requirements under the
Securities Act or applicable state securities laws. Under U.S. law,
a new drug cannot be marketed until it has been investigated in
clinical trials and approved by the FDA as being safe and effective
for the intended use. Statements included in this press release
that are not historical in nature are "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. You should be aware that
our actual results could differ materially from those contained in
the forward-looking statements, which are based on management's
current expectations and are subject to a number of risks and
uncertainties, including, but not limited to, our failure to
successfully commercialize our product candidates; costs and delays
in the development and/or FDA approval, or the failure to obtain
such approval, of our product candidates; uncertainties in clinical
trial results; our inability to maintain or enter into, and the
risks resulting from our dependence upon, collaboration or
contractual arrangements necessary for the development,
manufacture, commercialization, marketing, sales and distribution
of any products; competitive factors; our inability to protect our
patents or proprietary rights and obtain necessary rights to third
party patents and intellectual property to operate our business;
our inability to operate our business without infringing the
patents and proprietary rights of others; general economic
conditions; the failure of any products to gain market acceptance;
our inability to obtain any additional required financing;
technological changes; government regulation; changes in industry
practice; and one-time events. We do not intend to update any of
these factors or to publicly announce the results of any revisions
to these forward-looking statements. DATASOURCE: Marshall Edwards,
Inc. CONTACT: Christopher Naughton, CEO of Marshall Edwards, Inc.,
+612-8877-6196; or David Sheon of SciWords, LLC, +1-202-518-6321,
for Marshall Edwards, Inc. Web site:
http://www.marshalledwardsinc.com/ http://www.novogen.com/
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