Navigation Links
Pharmaxis Announces Placement of $47 Million and Share Purchase Plan
Date:6/3/2009

SYDNEY, June 3 /PRNewswire-Asia/ -- Pharmaxis (ASX: PXS, Nasdaq: PXSL) today announced that it had raised A$47 million through a placement to Australian and international institutions and professional investors. The placement strengthens the company's balance sheet as Pharmaxis moves toward the European and U.S. commercial launch of its product Bronchitol for cystic fibrosis.

Pharmaxis will issue 20 million new fully paid ordinary shares at A$2.35 per share, a 10.6% discount to Pharmaxis' last closing price on 1 June 2009 and an 8.5% discount to the volume weighted average share price over the past 30 days. The shares to be issued will rank equally with existing ordinary shares in the capital of the company.

The placement has been managed by Wilson HTM Corporate Finance Limited and closed oversubscribed. Settlement of the placement is scheduled to take place on 10 June 2009.

A share purchase plan will be offered to all Australian and New Zealand shareholders who hold shares as at 7.00pm on 1 June 2009 and will afford the opportunity to purchase up to $5,000 worth of fully paid ordinary shares at the placement price of A$2.35, without brokerage or transaction costs. The share purchase plan offer opens on 10 June and closes on 24 June 2009. The share purchase plan will be capped at A$10 million.

"The proceeds from this offering are principally to be used for the commercial launch of Bronchitol for cystic fibrosis in both Europe and the U.S. This placement means Pharmaxis can take an important additional step in building a profitable, international, pharmaceutical business. We are very pleased with the support from the participating institutions and look forward to bringing Bronchitol to the world," said Pharmaxis Chief Executive Officer Dr Alan Robertson.

Forward-Looking Statements

The statements contained in this media release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this media release include statements regarding our expectations, beliefs, hopes, goals, intentions, initiatives or strategies, including statements regarding the potential for Aridol and/or Bronchitol. All forward-looking statements included in this media release are based upon information available to us as of the date hereof, and we assume no obligation to update any such forward-looking statement as a result of new information, future events or otherwise. We can not guarantee that any product candidate will receive FDA or other regulatory approval or that we will seek any such approval. Factors that could cause or contribute to such differences include, but are not limited to, factors discussed in the "Risk Factors and Other Uncertainties" section of our Form 20-F lodged with the U.S. Securities and Exchange Commission.

    CONTACT:

     Alan Robertson - Chief Executive Officer
     Tel:   +61-2-9454-7200
     Email: alan.robertson@pharmaxis.com.au

    RELEASED THROUGH:

    Australia:
     Felicity Moffatt
     Tel:   +61-418-677-701
     Email: felicity.moffatt@pharmaxis.com.au

    United States:
     Brandon Lewis, Trout Group
     Tel:   +1-646-378-2915
     Email: blewis@troutgroup.com

'/>"/>
SOURCE Pharmaxis Ltd
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. New Pharmaxis Board Appointment
2. Pharmaxis Investor Conference Call
3. Pharmaxis Appoints French Distributor for Aridol(TM)
4. Pharmaxis Builds Senior Management Team
5. Pharmaxis Investor Conference Call
6. Pharmaxis Aridol Approved for Sale in Switzerland
7. Pharmaxis Investor Conference Call
8. Pharmaxis Research Programs Highlighted at European Respiratory Society Congress
9. New Pharmaxis Board Appointment
10. Pharmaxis Aridol Authorised for Sale in Germany
11. Pharmaxis First Steps into China
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/21/2017)... ... , ... Lajollacooks4u welcomed the San Diego chapter of Les Dames d’Escoffier International ... women with high achievement in the fields of food, fine beverage and hospitality, was ... began with an olive oil tasting to whet their palettes and then rolled up ...
(Date:9/20/2017)... ... September 20, 2017 , ... The ... Agronomic Services (Koch) to feature new innovations aimed at helping farmers solve the ... 2018. American Farmer airs Tuesdays at 8:30aET on RFD-TV. Check your local listings ...
(Date:9/20/2017)... ... 2017 , ... Diversity focused business accelerator, The Refinery , announced today ... uncover the top technology-driven, women-led startups in Boston, MA, New Haven/Hamden, CT, and Newark, ... events going on that week – in Boston, it will be part of the ...
(Date:9/20/2017)... ... September 20, 2017 , ... Proscia Inc. , a ... provider of whole slide imaging solutions, are hosting a pre-conference workshop at the ... Deploying a Best-in-Class Strategy for Digital Pathology,” will feature Proscia CEO, David West ...
Breaking Biology Technology:
(Date:4/5/2017)... 4, 2017 KEY FINDINGS The ... at a CAGR of 25.76% during the forecast period ... primary factor for the growth of the stem cell ... MARKET INSIGHTS The global stem cell market ... and geography. The stem cell market of the product ...
(Date:3/30/2017)... 30, 2017 Trends, opportunities and forecast in ... by technology (fingerprint, AFIS, iris recognition, facial recognition, hand ... by end use industry (government and law enforcement, commercial ... banking, and others), and by region ( North ... Asia Pacific , and the Rest of ...
(Date:3/24/2017)... Research and Markets has announced the addition of the ... Industry Forecast to 2025" report to their offering. ... The Global Biometric Vehicle Access ... 15.1% over the next decade to reach approximately $1,580 million by ... and forecasts for all the given segments on global as well ...
Breaking Biology News(10 mins):