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

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:
(Date:10/12/2015)... Nashville, TN (PRWEB) , ... October 13, 2015 ... ... the recipients of its biannual Heroes in Recovery Awards at Foundations Recovery Network’s ... Foundations Recovery Network presented the one-of-a-kind awards to Noah Levine and Dean Dauphinais ...
(Date:10/12/2015)... North Carolina (PRWEB) , ... October 12, 2015 , ... Kevin Costello, winner of the ... North Carolina , embarks today for his dream vacation to Hawaii. , “I didn’t believe ... worked out,” he says. “This contest encouraged me to get to the gym and invest ...
(Date:10/12/2015)... (PRWEB) , ... October 12, 2015 , ... ... the practice of hypnosis by individuals who lack professional education and clinical training ... to the public for a variety of purposes such as: losing weight, managing ...
(Date:10/12/2015)... ... October 12, 2015 , ... At first glance, it ... umbrella one would find atop a drink in a tiki bar. But the Parachute® ... trial at Allegheny General Hospital (AGH) could potentially signal a new way of treating ...
(Date:10/12/2015)... ... October 12, 2015 , ... FEI Behavioral Health, a social ... to crisis management, will present a session at the Wisconsin Society for Human ... , FEI’s Chief Operating Officer Daniel Potterton will present an informative workshop, “Training ...
Breaking Medicine News(10 mins):
(Date:10/12/2015)... Calif. , Oct. 12, 2015  In a ... in the Journal of Neurology, Neurosurgery, and Psychiatry, the ... reduce brain atrophy and cognitive decline in patients in ... --> --> IVIG, extracted from ... antibodies to amyloid, an abnormal brain protein found in ...
(Date:10/12/2015)... Leadership of the National Association of Vision Care Plans (NAVCP) ... , CEO of MESVision resumed her role as Chairwoman following ... annual strategic planning meeting in Chicago ... from May 2013 to May of this year. She succeeds ... of the increased demands of his recent appointment to President ...
(Date:10/12/2015)...  CME Group,s Center for Innovation announced today ... is the 11 th recipient of the CME ... diagnostics company, Theranos , to change health care from ... era of preventive care. CME Group will present the award ... in Naples, Florida , on Tuesday, November ...
Breaking Medicine Technology: