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:4/28/2017)... ... April 28, 2017 , ... Datta Endoscopic ... has joined the revolutionary endoscopic practice under Dr. Datta. Patel is a Board ... Medicine. The patented, revolutionary eDiscSculpt Technique created and used by Datta Endoscopic is ...
(Date:4/28/2017)... ... 2017 , ... People are starting to accept that hearing aids can be ... the stigma it had when great-grandpa wore his hearing aids years ago,” said Dr. ... North American Speaker Series (NASS) segment. “He probably wore an iPod-size hearing ...
(Date:4/28/2017)... ... April 28, 2017 , ... ... assisting the Brooke Grove Foundation implement a Microsoft Dynamics GP solution that integrates ... leading ERP expert that specializes in long-term care, Brooke Grove now has the ...
(Date:4/28/2017)... ... April 28, 2017 , ... Christie Medical Holdings, Inc. , with ... B. Braun Medical Inc. , a leader in infusion therapy and pain management. ... many as 90 percent of hospital patients receiving a peripheral IV catheter as part ...
(Date:4/27/2017)... ... April 27, 2017 , ... The ... the 2017 Public Leadership in Neurology Award (PLINA). The couple joins a prestigious ... Bruschi, Vice President Walter Mondale, actor Michael J. Fox and former U.S. Attorney ...
Breaking Medicine News(10 mins):
(Date:4/25/2017)... 2017 Endo International plc (NASDAQ: ENDP ) ... of its senior management team will host a conference call and ... The dial-in number to access the call is ... the passcode is 6086379. Please dial in 10 minutes prior to ... replay of the call will be available from May 9, 2017 ...
(Date:4/20/2017)... , April 20, 2017  Cogentix Medical, Inc. ... on providing the Urology, Uro/Gyn and Gynecology markets ... Ash Keswani has joined the Company as Senior ... newly created position, Mr. Keswani will report directly ... "Our organization is delighted that Ash ...
(Date:4/20/2017)... 2017  RXi Pharmaceuticals Corporation (NASDAQ: RXII), a ... significant unmet medical needs, today announced that it ... product development program, based on its proprietary self-delivering ... Dermatology (SID) 76 th Annual Meeting.  The ... sciences relevant to skin health and disease through ...
Breaking Medicine Technology: