Navigation Links
Akela Pharma provides corporate update
Date:12/20/2007

http://www.akelapharma.com Toronto Stock Exchange Symbol: AKL

MONTREAL, Dec. 20 /PRNewswire-FirstCall/ - Akela Pharma Inc. (TSX: "AKL"), a drug development company focused on developing therapies for the inhalation and pain markets, today announced that due to unfavorable market conditions, particularly in the small and micro-cap sector, it has decided to abandon its US public offering initiative. The Company is currently contemplating other financing options. It is still the Company's intention to list its shares on a US exchange.

Akela also announces it has already started to implement significant cost reduction measures to bring its cash burn rate in line with its current and expected financial resources. The Company will primarily focus its R&D activities on its core programs. PharmaForm, the Company's drug formulation and manufacturing subsidiary located in Austin, Texas, is currently experiencing substantial growth, and is expected to contribute towards the Company's operating cash flow in the near term.

"Although the latest unfavorable market conditions did not allow us to complete our US public offering as originally planned, we remain extremely confident about the appeal and commercial potential of our products and platforms. We have aligned our corporate focus with our financial resources to ensure optimal returns on our core activities" said Dr Halvor Jaeger, CEO of Akela Pharma Inc.

About Akela Pharma Inc.

Akela Pharma is an integrated drug development company focused on developing therapies for the growing multi-billion dollar inhalation and pain markets. Its lead product, for the treatment of breakthrough cancer pain, is a fast-acting Fentanyl formulation delivered using the Company's TAIFUN(R) dry powder inhaler platform. Its pipeline also includes therapeutics for asthma, COPD, growth hormone deficiencies and controlled substance abuse deterrent formulations.

Akela's common shares trade on The Toronto Stock Exchange ("TSX") under the symbol "AKL" with 11.7 million shares outstanding.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Akela Pharma Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.


'/>"/>
SOURCE AKELA PHARMA INC.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. AKELA Pharma Inc. announces positive results for the extension part of its Phase IIb Fentanyl TAIFUN(R) trial
2. Akela Pharma Inc. Completes Share Consolidation
3. AKELA Pharma Inc. announces U.S. public offering and proposed listing
4. Akela Pharma reports results for third quarter of fiscal 2007
5. Akela Pharma announces final positive results from its growth hormone releasing hormone (GHRH) Phase II trial
6. Anemia and tropical diseases; Is pharmacogenomics ready for the clinic?
7. Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Mercks Generic Pharmaceutical Business
8. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
9. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
10. The Pharma & Life Sciences Best Practice Database: an Industry Resource for Successful Techniques and Performance Benchmarks for Reaching the Top
11. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... ... DevOps and Agile Software Development, has been awarded a contract by the Center ... Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies in ...
(Date:10/12/2017)... , ... October 12, 2017 , ... ... now treating sleep apnea using cutting-edge Oventus O2Vent technology. As many ... sleep disorder characterized by frequent cessation in breathing. Oral appliances can offer significant ...
(Date:10/12/2017)... ... 12, 2017 , ... The American College of Medical Informatics (ACMI) will present ... the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual Symposium ... Collen, a pioneer in the field of medical informatics, this prestigious award is presented ...
(Date:10/12/2017)... ... ... HMP , a leader in healthcare events and education, today announced that ... ‘Best B-to-B Healthcare Website.’ Winners were announced during the Eddie & Ozzie Awards luncheon ... editorial and design excellence across a range of sectors. This year’s program included the ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... nation's first interactive health literacy software tool, and the Cancer Patient Education Network ... cancer patient education, today announce a new strategic alliance. , As CPEN’s ...
Breaking Medicine News(10 mins):
(Date:10/4/2017)... 4, 2017  According to the Centers for Disease Control and Prevention ... . PhysicianOne Urgent Care is helping communities across Massachusetts ... , by offering no-cost* flu shots through the end of the month. ... health insurance regulations. ... to get a flu shot is by the end of October, according ...
(Date:10/2/2017)... , Oct. 2, 2017  AllianceRx Walgreens Prime, the ... by Walgreens and pharmacy benefit manager Prime Therapeutics LLC ... brand, which included the unveiling of new signage at ... as well as at a few other company-owned facilities ... brand to patients, some of whom will begin to ...
(Date:9/28/2017)... , Sept. 28, 2017 Cohen Veterans ... advance the use of wearable and home sensors for ... disorders. Early Signal Foundation, a nonprofit organization focused on ... will provide an affordable analytical system to record and ... ...
Breaking Medicine Technology: