Navigation Links
Bionovo Announces Pricing of Securities Offering
Date:10/2/2009

EMERYVILLE, Calif., Oct. 2 /PRNewswire-FirstCall/ -- Bionovo, Inc. (Nasdaq: BNVI) today announced that it has entered into agreements with selected investors to sell up to 3,230,995 units at a price per unit of $6.20 for aggregate gross proceeds of up to $20.0 million. Each unit consists of ten shares of common stock and ten warrants. Each warrant entitles its holder to purchase one share of Bionovo common stock at an exercise price of $0.85. The warrants may be exercised at any time after six months from the date of the closing and will expire after five years. The offering is expected to close on or about Wednesday, October 7, 2009, subject to customary closing conditions.

Bionovo expects to use the net proceeds from this offering to advance its lead drug candidate for postmenopausal vasomotor symptoms, Menerba, into Phase 3 clinical trials, and the remaining net proceeds, if any, for general corporate purposes.

Dawson James Securities acted as the exclusive placement agent for the offering. Bionovo granted the placement agent a 30-day option to arrange for the sale of up to an additional 484,649 units (consisting of 4,846,493 shares and 4,846,493 warrants) to cover over-allotments.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. You may obtain these documents for free by visiting EDGAR on the SEC's website, at www.sec.gov. Alternatively, a copy of the prospectus may be obtained from Dawson James Securities, Attention: Monique Maclaren, 925 South Federal Highway, Suite 600, Boca Raton, Florida, 33432-6145 or by calling toll free at (866) 928-0928.

Bionovo, Inc.

Bionovo, Inc. 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. Bionovo 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 it has discovered new classes of drug candidates within its 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".

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.


'/>"/>
SOURCE Bionovo, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Bionovo Announces Closing of Public Offering of Common Stock
2. Bionovo Describes a New Class of Therapeutic Compounds
3. Bionovo Announces 2007 Financial Results and Highlights
4. Bionovo to Present at the Cambria Capital Investor Meeting
5. John D. Baxter, M.D. Joins Bionovos Board of Directors
6. Bionovo to Present at the Rodman & Renshaw 10th Annual Global Investment Conference
7. Bionovo to Present Recent Findings of BN108, its Anticancer Agent, at the 31st Annual San Antonio Breast Cancer Symposium
8. Willa A. Hsueh, M.D., Joins Bionovos Scientific Advisory Board
9. Bionovo Announces Cost Control Measures Taken
10. Bionovo Announces Presentation at the National Cancer Institute
11. Jan Ake Gustafsson, M.D., Ph.D., Joins Bionovos Scientific Advisory Board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... TherapySites, the leading ... with Tennessee Counseling Association. This new relationship allows TherapySites to continue ... Association, adding exclusive benefits and promotional offers. , "TCA is extremely excited about ...
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star ... , Millions of individuals in the United States and Canada wear eyeglasses. Once considered ... both correct vision and make a fashion statement. Even celebrities use glasses as a ...
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ... , "Film editors can give their videos a whole new perspective by using the ... CEO of Pixel Film Studios. , ProSlice Levels contains over 30 Different presets ...
(Date:6/26/2016)... Michigan (PRWEB) , ... June 26, 2016 , ... ... to fertility once they have been diagnosed with endometriosis. These women need a ... they also require a comprehensive approach that can help for preservation of fertility ...
(Date:6/25/2016)... ... ... temporary closing of Bruton Memorial Library on June 21 due to a possible lice infestation, ... aspect of head lice: the parasite’s ability to live away from a human host, and ... necessary one in the event that lice have simply gotten out of control. , As ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... According to a new market ... Needles, Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, ... of Purchase (Retail, Non-Retail) - Trends & Global Forecasts ... market for the forecast period of 2016 to 2021. ... by 2021 from USD 1.65 Billion in 2016, growing ...
(Date:6/23/2016)... , June 23, 2016 Research and ... Global Market - Forecast to 2022" report to their ... treatment method for the patients with kidney failure, it replaces ... fluid from the patient,s blood and thus the treatment helps ... and chloride in balance. Increasing number of ...
(Date:6/23/2016)... -- Research and Markets has announced the addition ... - Forecast to 2022" report to their offering. ... to date financial data derived from varied research sources to ... potential impact on the market during the next five years, ... of sub markets, regional and country level analysis. The report ...
Breaking Medicine Technology: