Navigation Links
Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
Date:2/15/2008

NEW HAVEN, Conn., Feb. 15 /PRNewswire-FirstCall/ -- VION PHARMACEUTICALS, INC. (Nasdaq: VION) today announced that the Company had paid interest due February 15, 2008 on its 7.75% Convertible Senior Notes due 2012 (the "Notes"). The aggregate principal amount of the Notes is $60 million.

The Company paid $2,376,666.67 through the issuance of shares of its registered Common Stock. Approximately $2,376,345.60 was paid in 5,500,800 shares of Common Stock, based on today's closing bid price of $0.432, which is approximately equal to 91.68 shares of Common Stock per each $1,000 principal amount of Notes. Cash interest was paid in lieu of fractional shares.

Vion Pharmaceuticals, Inc. is committed to extending the lives and improving the quality of life of cancer patients worldwide by developing and commercializing innovative cancer therapeutics. Vion has two agents in clinical trials. Cloretazine(R) (VNP40101M), a unique alkylating agent, is being evaluated in a pivotal Phase II trial as a single agent in elderly patients with de novo poor-risk acute myelogenous leukemia. Clinical trials of Cloretazine(R) (VNP40101M) as a single agent in small cell lung cancer, with temozolomide in brain tumors, and with stem cell transplantation in advanced hematologic malignancies, are also being conducted. Triapine(R), a potent inhibitor of a key step in DNA synthesis, is being evaluated in clinical trials sponsored by the National Cancer Institute. For additional information on Vion and its product development programs, visit the Company's Internet web site at http://www.vionpharm.com.

This news release contains forward-looking statements. Such statements are subject to certain risk factors which may cause Vion's plans to differ or results to vary from those expected, including Vion's potential inability to obtain regulatory approval for its products, delayed or unfavorable results of drug trials, the possibility that favorable results of earlier preclinical studies or clinical trials are not predictive of safety and efficacy results in later clinical trials, the need for additional research and testing, the potential inability to secure external sources of funding to continue operations, the inability to access capital and funding on favorable terms, continued operating losses and the inability to continue operations as a result, and a variety of other risks set forth from time to time in Vion's filings with the Securities and Exchange Commission, including but not limited to the risks attendant to the forward-looking statements included under Item 1A, "Risk Factors" in Vion's Form 10-K for the year ended December 31, 2006 and the Company's Form 10-Q for the quarter ended September 30, 2007. In particular, there can be no assurance as to the results of any of the Company's clinical trials, that any of these trials will continue to full accrual, or that any of these trials will not be discontinued, modified, delayed or ceased altogether. Except in special circumstances in which a duty to update arises under law when prior disclosure becomes materially misleading in light of subsequent events, Vion does not intend to update any of these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

COMPANY CONTACT: Vion Pharmaceuticals, Inc.

Alan Kessman, Chief Executive Officer

Howard B. Johnson, President & CFO

(203) 498-4210 phone


'/>"/>
SOURCE Vion Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Keryx Biopharmaceuticals Announces Additions to Management Team
2. Cadence Pharmaceuticals to Raise up to $49.3 Million in Registered Direct Common Stock Offering
3. Anadys Pharmaceuticals to Report Fourth Quarter and Year-End 2007 Financial Results
4. Onyx Pharmaceuticals Announces Fourth Quarter and Full Year 2007 Financial Results Teleconference and Webcast
5. Vanda Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results
6. Vion Pharmaceuticals Holds Special Meeting of Stockholders
7. Jazz Pharmaceuticals, Inc. Announces Fourth Quarter and Full Year 2007 Financial Results
8. Cellegy Pharmaceuticals Announces Signing of Definitive Merger Agreement
9. Peregrine Pharmaceuticals Doses First Patient in Phase II Clinical Trial of Bavituximab in Patients With Advanced Breast Cancer
10. Peregrine Pharmaceuticals to Present at the 10th Annual BIO CEO & Investor Conference
11. Access Pharmaceuticals to Present at the 10th Annual BIO CEO & Investor Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/18/2017)... ... January 18, 2017 , ... Opal Kelly, a leading ... PCI Express, announced the ZEM5310 USB 3.0 FPGA Module, combining a SuperSpeed USB ... sized form factor suitable for prototyping, testing, and production-ready integration. The ZEM5310 USB ...
(Date:1/18/2017)...   Boston Biomedical , an industry leader in ... stemness pathways, will feature data from two clinical studies ... ASCO Gastrointestinal Cancers Symposium, held from January 19-21, in ... Napabucasin is an orally-administered investigational agent designed to inhibit ... stem cells (CSCs) possess the property of stemness – ...
(Date:1/18/2017)... , Jan. 18, 2017   Parent Project ... fight to end Duchenne muscular dystrophy (Duchenne) , ... the New Jersey Institute of Technology (NJIT) and Talem ... exploration of robotic technology to assist people living ... incorporate NJIT,s technology – an embedded computer, software, a ...
(Date:1/18/2017)... ... January 18, 2017 , ... ... Leven successfully implanted SpineFrontier’s A-CIFT™ Solofuse-P™. The operation took place on Wednesday, January ... NY. The procedure was an anterior cervical discectomy and fusion on a 42 ...
Breaking Biology Technology:
(Date:1/19/2017)... 19, 2017 According to a new report published by ... - 2022," the global biometric sensor market is expected to garner $1.5 billion ... 2015, Asia-Pacific dominated the global market and contributed over ... Continue Reading ... ...
(Date:1/18/2017)... ROCKVILLE, Md. , Jan. 18, 2017  In ... with respect to mergers and acquisitions (M&A), and Kalorama ... reasons for such acquisitions have been shifting. Generally, uncertainty ... and the U.S. has changed the acquisitions ... situation has resulted in companies buying partners outside of ...
(Date:1/13/2017)... WASHINGTON, N.Y. , Jan. 13, 2017 /PRNewswire/ ... of technology solutions for the homecare industry, including ... of homecare industry expert, Justin Jugs, as Senior ... brings more than 15 years of homecare experience ... team in developing strategic plans to align Sandata,s ...
Breaking Biology News(10 mins):