Navigation Links
Cadence Pharmaceuticals Completes $86.6 Million Private Placement of Common Stock
Date:2/19/2009

SAN DIEGO, Feb. 19 /PRNewswire-FirstCall/ -- Cadence Pharmaceuticals, Inc. (Nasdaq: CADX) announced today that it completed its previously announced private placement of approximately 12 million shares of the Company's common stock at a price of $7.13 per share and five-year warrants to purchase up to approximately 6 million additional shares of the Company's common stock, exercisable in cash or by net exercise at a price of $7.84 per share, for aggregate gross proceeds of approximately $86.6 million. The price paid for the common stock is equal to the consolidated closing bid price on the Nasdaq Global Market on the day of pricing, February 13, 2009.

The financing was led by Venrock with participation by Frazier Healthcare Ventures, Domain Associates, Versant Ventures, New Enterprise Associates, Bay City Capital and T. Rowe Price Associates.

The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and were sold in a private placement pursuant to Regulation D of the Securities Act. The securities may not be offered or sold in the United States absent registration or pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. The Company has agreed to file a registration statement covering the resale of the shares of common stock acquired by the investors and shares of common stock issuable upon exercise of the warrants acquired by the investors.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Cadence Pharmaceuticals, Inc.

Cadence Pharmaceuticals is a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates principally for use in the hospital setting. The company currently has two Phase III product candidates in development, Acetavance(TM) (intravenous acetaminophen) for the treatment of acute pain and fever, and Omigard(TM) (omiganan pentahydrochloride 1% topical gel) for the prevention of catheter-related infections. For more information about Cadence's pipeline, visit www.cadencepharm.com.

Forward-Looking Statements

Statements included in this press release that are not a description of historical facts are forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Cadence that any of its plans will be achieved. Actual results may also differ from those projected in forward-looking statements due to risks and uncertainties that exist in the Company's operations and business environments, including the possible need to raise additional capital and the possibility that Cadence's share price may decline after the transaction is closed. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Cadence undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Cadence(TM), Acetavance(TM) and Omigard(TM) are trademarks of Cadence Pharmaceuticals, Inc.

    Contacts:   William R. LaRue
                SVP & Chief Financial Officer
                Cadence Pharmaceuticals, Inc.
                858-436-1400

                Anna Gralinska
                Director, Investor Relations
                Cadence Pharmaceuticals, Inc.
                858-436-1452


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

Related medicine news :

1. Cadence Pharmaceuticals Chief Medical Officer James Breitmeyer to Present at JMP Securities Healthcare Focus Conference
2. Cadence Pharmaceuticals Announces Topline Results of Two Phase III Clinical Trials of Acetavance(TM)
3. Cadence Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Financial Results and Provides Corporate and Clinical Program Overview
4. Cadence Pharmaceuticals to Host Conference Call and Webcast to Discuss First Quarter Financial Results and Provide a Clinical Program Update on May 6, 2008
5. Cadence Pharmaceuticals CEO Theodore Schroeder to Present at the Seventh Annual Needham & Company, LLC Biotechnology and Medical Technology Conference on June 11, 2008 in New York
6. Cadence Pharmaceuticals Announces Positive Topline Results of Phase III Clinical Trial of Acetavance in Laparoscopic Surgery
7. Cadence Pharmaceuticals CEO Theodore Schroeder to Present at the BIO CEO and Investor Conference in New York City
8. Cadence Pharmaceuticals to Raise $86.6 Million in a Private Placement of Common Stock
9. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
10. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
11. Provectus Pharmaceuticals, Inc. Begins Phase 2 Clinical Trial for Metastatic Melanoma
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... , ... October 13, 2017 , ... ... throughout Arkansas that offers insurance and financial preparation services, is providing an update ... City Rescue organization. , Rock City Rescue is a locally recognized nonprofit that ...
(Date:10/13/2017)... ... , ... The American Board of Family Medicine's (ABFM) Board of Directors has ... succeeding Dr. James C. Puffer upon his retirement. Dr. Newton will serve in the ... at the end of 2018. Upon assuming the role of President and CEO on ...
(Date:10/13/2017)... EDWARDSVILLE, Ill. (PRWEB) , ... ... ... University Edwardsville School of Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and ... educated healthcare professionals on guideline updates for the primary prevention of cardiovascular ...
(Date:10/13/2017)... Calif. (PRWEB) , ... October 13, 2017 , ... Many ... dementia. However, many long-term care insurance companies have a waiver for care if the ... 90-day elimination period, when the family pays for care, is often waived, so the ...
(Date:10/13/2017)... Milford, NJ (PRWEB) , ... October 13, 2017 , ... ... weekend at scenic Alexandria Park in Milford, NJ. This free event, sponsored by ... and physical activity. The fun run is geared towards children of all ages; ...
Breaking Medicine News(10 mins):
(Date:10/12/2017)... , Oct. 12, 2017   Divoti USA ... up to the standard of the latest FDA requirements, which stipulates ... Anyone in need of Medical ID jewelry such as ... Jewelry are engraved in terms of the new FDA ... Divoti offers this ...
(Date:10/11/2017)... 2017  Caris Life Sciences ® , a leading ... of precision medicine, today announced that St. Jude Medical ... Alliance™ (POA) as its 17 th member. Through ... Crosson Cancer Institute will help develop standards of care ... profiling, making cancer treatment more precise and effective. ...
(Date:10/10/2017)... COUNTY, Calif. , Oct. 10, 2017  NDS received FDA ... Mobile  — a medical-grade battery-powered display stand specifically designed for endoscopy ... to transform technology into a clinical solution to support the improvement ... Innovative Design ... ZeroWire Mobile Wireless Solution ...
Breaking Medicine Technology: