Navigation Links
Bionovo Announces Closing of Public Offering of Common Stock
Date:10/31/2007

EMERYVILLE, Calif., Oct. 31 /PRNewswire-FirstCall/ -- Bionovo, Inc. (Nasdaq: BNVI), a leader in the discovery and development of safe and effective drugs in the areas of women's health and cancer, announced today that it has completed the previously announced public offering of 10,000,000 shares of its common stock at a public offering price of $2.50 per share and 5,000,000 warrants to purchase shares of common stock at $3.50 per share at a price of $0.10 per warrant. The net proceeds to the company of the offering were approximately $24.0 million, after payment of underwriting discounts and commissions, but excluding estimated offering expenses. Bionovo will use the proceeds to advance its clinical programs.

Bionovo has granted the underwriters a 30-day option to purchase up to an additional 15% of the offering to cover over-allotments. All of the shares were offered by Bionovo. BMO Capital Markets Corp. and Canaccord Adams Inc. acted as joint book-running managers for the offering, with Merriman Curhan Ford & Co. (Amex: MEM) acting as a co-manager.

Isaac Cohen, Chairman and CEO of Bionovo, said, "We're pleased to have the funding to progress our clinical programs, as we strive to bring to market safe and effective therapeutics for currently unmet needs in women's health. It is unfortunate that, despite new innovations like Bionovo's, there are many women's health issues that receive insufficient attention."

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus may be obtained from: BMO Capital Markets Corp., Attn: Prospectus Delivery Department, 3 Times Square, New York, New York 10036; Telephone: (212) 702-1969. A prospectus supplement relating to the offering has been filed with the SEC, and is available along with the base prospectus filed with the SEC in connection with the shelf registration, on the SEC's website at http://www.sec.gov/.

Bionovo, Inc.

Bionovo is a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, markets with significant unmet needs and billions in potential annual revenue. The company applies its expertise in the biology of menopause and cancer to design new drugs derived from botanical sources which have novel mechanisms of action. Based on the results of early and mid-stage clinical trials, Bionovo believes they have discovered new classes of drug candidates within their rich pipeline with the potential to be leaders in their markets. Bionovo is headquartered in Emeryville, California and is traded on the NASDAQ Capital Market under the symbol, "BNVI". For more information about Bionovo and its programs, visit http://www.bionovo.com.

Forward Looking Statements

This release contains certain forward-looking statements relating to the business of Bionovo, Inc. that can be identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development, efficacy and safety, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, physician acceptance, third party reimbursement, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. Bionovo, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.


'/>"/>
SOURCE Bionovo, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. PM announces a new health care order for India
2. Ramdoss Announces Introduction of RCH-II
3. Britain Announces Third Transfusion Related Mad Cow Case
4. Gates Foundation Announces $287 Million In Grants Towards AIDS Vaccine
5. Tibet Announces the Dalai Lama’s Tour of South Americ
6. NHS announces further Cost cutting Measures
7. Indian PM Announces Of Setting Up India Study Center At Tashkent
8. PowderMed Announces Needle-Less Flu Vaccine
9. Malaysia Announces Prison term On People Donating HIV-Contaminated Blood
10. Australian Government Announces Survey To Tackle Childhood Obesity
11. New Zealand Announces 10-year Plan For Betterment Of Mental Health Care
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... California (PRWEB) , ... February 23, 2017 , ... ... Sports Development will host a diverse symposium on “Doping in Sport: ... Law and Sheppard Mullin Richter & Hampton LLP. The symposium will be held ...
(Date:2/23/2017)... , ... February 23, 2017 , ... ... uncertainty in clinical trials, today announced that Premier Research, a leading clinical development ... , Clinical trials are becoming increasingly complex, due in part to an array ...
(Date:2/23/2017)... ... February 23, 2017 , ... ... with the Rhode Island Consortium for Autism Research and Treatment (RI-CART) and Cinemaworld ... with autism spectrum disorder (ASD) to see films in an environment that accommodates ...
(Date:2/23/2017)... ... , ... Top cosmetic and periodontal dentist Dr. Mahnaz Rashti announced ... Indiegogo campaign . Individuals are now able to contribute to the local initiative, which ... a participating patient or through an Indiegogo donation. The entirety of proceeds will go ...
(Date:2/23/2017)... ... February 23, 2017 , ... Thomas Vas-Don suffered ... exercise regime, the author was able to successfully recover. In “ Origin & Insertion ... for various sources on the principals of massage, anatomy , trigger points ...
Breaking Medicine News(10 mins):
(Date:2/23/2017)... YORK , Feb. 22, 2017 This report ... Thousand. The report provides separate comprehensive analytics for the US, ... Europe , Asia-Pacific , ... Annual estimates and forecasts are provided for the period 2015 ... these markets. Market data and analytics are derived from primary ...
(Date:2/23/2017)... , Feb. 22, 2017 Summary ... lymphoma partnering deals and agreements entered into by ... full report: http://www.reportlinker.com/p03605669-summary/view-report.html Description The ... 2010 report provides understanding and access to partnering ... leading healthcare companies. - Trends in ...
(Date:2/22/2017)... , Feb. 22, 2017 General ... ASPs, Market Value & Growth Trends - Market ... Competitive Analysis for each chapter segment - Section ... the full report: https://www.reportbuyer.com/product/4665946/ ... different delivery methods: articulated arm lasers, fiber-delivered lasers ...
Breaking Medicine Technology: