Navigation Links
Cadence Pharmaceuticals to Raise $86.6 Million in a Private Placement of Common Stock
Date:2/17/2009

SAN DIEGO, Feb. 17 /PRNewswire-FirstCall/ -- Cadence Pharmaceuticals, Inc. (Nasdaq: CADX) announced today that it has entered into an agreement to issue and sell in a private placement approximately 12 million shares of the Company's common stock and warrants to purchase up to approximately 6 million additional shares of the Company's common stock, for aggregate gross proceeds of approximately $86.6 million. The price to be paid for the common stock, $7.13 per share, is equal to the consolidated closing bid price on the Nasdaq Global Market on the day of pricing, February 13, 2009. The five-year warrants are exercisable at a price of $7.84 per share. The private placement is expected to close on February 18, 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 to be sold in this private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and will be 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, Cadence's ability to close the private placement and, if it is able to close the private placement, 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. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
9. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
10. Provectus Pharmaceuticals, Inc. Begins Phase 2 Clinical Trial for Metastatic Melanoma
11. Idenix Pharmaceuticals to Present at Two Upcoming Investor Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... (PRWEB) , ... June 27, 2016 , ... "FCPX editors ... customizable inside of Final Cut Pro X," said Christina Austin - CEO of Pixel ... style. Final Cut Pro X users can now reveal the media of ...
(Date:6/27/2016)... ... June 27, 2016 , ... ... industry today announced its strategic partnership with Connance, a healthcare industry leader ... two companies’ proven, proprietary technology combine to provide health systems, hospitals and ...
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their ... Eyeglasses . , Millions of individuals in the United States and Canada wear eyeglasses. ... way to both correct vision and make a fashion statement. Even celebrities use glasses ...
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A Forever Recovery, a ... and World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility is ... to some of the world’s leading providers of cereal and other breakfast foods. Its ...
(Date:6/26/2016)... , ... June 26, 2016 , ... PawPaws brand ... new product that was developed to enhance the health of felines. The formula is ... The two main herbs in the PawPaws Cat Kidney Support Supplement Soft ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... -- Revolutionary technology includes multi-speaker listening to ... leaders in advanced audiology and hearing aid technology, has ... the world,s first internet connected hearing aid that opens ...      (Photo: http://photos.prnewswire.com/prnh/20160622/382240 ) , ... firsts,: , TwinLink™ - the first dual ...
(Date:6/23/2016)... , June 23, 2016 The vast majority ... outpatient dialysis facility.  Treatments are usually 3 times a ... per visit, including travel time, equipment preparation and wait ... but especially grueling for patients who are elderly and ... skilled nursing and rehabilitation centers for some duration of ...
(Date:6/23/2016)... , June 23, 2016  Experian ... integrating and transforming the patient payment and ... several innovative new products and services that ... its revenue cycle offerings. These award-winning solutions ... efficient workflows, remain compliant in an ever-changing ...
Breaking Medicine Technology: