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
|SOURCE Jazz Pharmaceuticals, Inc.|
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