Navigation Links
Genelabs Technologies Announces Completion of $23.7 Million Registered Direct Financing
Date:10/1/2007

Funds to Support Ongoing HCV Drug Discovery Projects

REDWOOD CITY, Calif., Oct. 1 /PRNewswire-FirstCall/ -- Genelabs Technologies, Inc. (Nasdaq: GNLB) announced today that it has completed its previously announced sale of approximately 12.9 million shares of its common stock and warrants to purchase approximately 2.6 million shares of its common stock for gross proceeds of approximately $23.7 million. Genelabs sold the shares and warrants for $1.84 per unit (each unit consisting of one share and a warrant to purchase 0.20 shares of common stock). The exercise price of the warrants is $2.08 per share. The warrants will be exercisable at any time prior to the fifth anniversary of October 1, 2007. Genelabs plans to use the proceeds from this financing to support its ongoing hepatitis C virus (HCV) drug discovery programs and for general corporate purposes. The proceeds will not be used to fund a new phase III clinical trial of Prestara. Deutsche Bank Securities Inc. acted as exclusive placement agent in the transaction.

A shelf registration statement relating to these securities (File No. 333-145497) has been declared effective by the Securities and Exchange Commission. 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 jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer of these securities will be solely by means of a prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering. Copies of the final prospectus, including the prospectus supplement, can be obtained at the Securities and Exchange Commission's website, http://www.sec.gov, or from Genelabs.

Contact: James A. D. Smith

President and Chief Executive Officer

Phone: 650-562-1424


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

Related medicine news :

1. Researchers Develop Technologies to Devour Food Pathogens
2. Researchers Study Safety of Assisted Reproductive Technologies
3. India to Propose Global Fund for Clean Energy Technologies
4. PM announces a new health care order for India
5. Ramdoss Announces Introduction of RCH-II
6. Britain Announces Third Transfusion Related Mad Cow Case
7. Gates Foundation Announces $287 Million In Grants Towards AIDS Vaccine
8. Tibet Announces the Dalai Lama’s Tour of South Americ
9. NHS announces further Cost cutting Measures
10. Indian PM Announces Of Setting Up India Study Center At Tashkent
11. PowderMed Announces Needle-Less Flu Vaccine
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... (PRWEB) , ... June 27, 2016 , ... ... cutting edge technology to revolutionize the emergency ambulance transport experience for the millions ... aware of how Uber has disrupted the taxi industry through the use of ...
(Date:6/26/2016)... ... ... PawPaws brand pet supplements owned by Whole Health Supply is ... of felines. The formula is all-natural and is made from Chinese herbs that have ... Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root Extract ...
(Date:6/25/2016)... Miami, FL (PRWEB) , ... June 25, 2016 , ... The temporary closing of Bruton ... Plant City Observer , brings up a new, often overlooked aspect of head lice: ... The closing for fumigation is not a common occurrence, but a necessary one in the ...
(Date:6/25/2016)... ... 2016 , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland ... iHire in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness ... & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. Her son ... lash out at his family verbally and physically. , “When something upset him, he couldn’t ... would use it. He would throw rocks at my other children and say he was ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... Pa. , June 23, 2016 Bracket ... will launch its next generation clinical outcomes platform, Bracket eCOA ... Meeting held on June 26 – 30, 2016 in ... the first electronic Clinical Outcome Assessment product of its kind ... Booth #715. Bracket eCOA 6.0 is a flexible ...
(Date:6/23/2016)... and INDIANAPOLIS , June 23, 2016 ... Lilly Diabetes Tomorrow,s Leaders Scholarship is any indication, the ... announced today online at www.diabetesscholars.org by the ... diabetes stand in the way of academic and community ... Foundation,s scholarship program since 2012, and continues to advocate ...
(Date:6/23/2016)... Revolutionary technology includes multi-speaker listening to conquer ... in advanced audiology and hearing aid technology, has today ... world,s first internet connected hearing aid that opens up ...      (Photo: http://photos.prnewswire.com/prnh/20160622/382240 ) , ... , TwinLink™ - the first dual communication ...
Breaking Medicine Technology: