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Jazz Pharmaceuticals, Inc. Announces First Quarter 2008 Financial Results
Date:5/13/2008

hase III clinical trials of JZP-6 (sodium

oxybate) in fibromyalgia. The enrollment goal of 525 subjects has

been achieved in the first trial, and enrollment is expected to be

completed in the next several weeks. Top-line results for the first

trial are expected in the fourth quarter of 2008. Enrollment is

progressing in the second Phase III clinical trial of JZP-6 at

clinical sites in the U.S. and Europe.

-- On March 18, 2008, Jazz Pharmaceuticals announced the expansion of its

senior term debt under an agreement with an affiliate of Lehman

Brothers and certain other lenders. The transaction closed with

$40 million of gross proceeds, expanding the senior debt outstanding

from $80 million to $120 million. Jazz Pharmaceuticals has an option

under the agreement, through January 31, 2009, to borrow an additional

$30 million if sales of the company's products reach certain levels by

the end of 2008.

-- On May 8, 2008, Jazz Pharmaceuticals announced it had entered into a

Committed Equity Financing Facility (CEFF) with Kingsbridge Capital

Limited, a private investment group, in which Kingsbridge committed to

provide up to $75 million of capital through the purchase of

newly-issued shares of Jazz Pharmaceuticals' common stock. Under the

terms of the three-year agreement, Jazz Pharmaceuticals will determine

the exact timing and amount of any CEFF financings, subject to certain

conditions. The arrangement allows Jazz Pharmaceuticals to raise

capital, at its discretion, to support the company's commercial,

research and development and general corporate activities.

Jazz Pharmaceuticals will host an investor conference call and live audio webcast to discuss its financial results and provide a business update on its commercial and devel
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SOURCE Jazz Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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