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:3/24/2017)... ... ... The Radiology Business Management Association (RBMA) has named the nine winners ... year, are among the most prestigious in radiology marketing because a panel of radiology ... recognize achievements in both large budget (over $5,000) and small budget (under $5,000) campaigns. ...
(Date:3/24/2017)... ... March 24, 2017 , ... Texas Physical Therapy Specialists (TexPTS) is pleased ... Huebner Road. The clinic is the group’s 7th location in San Antonio and 23rd ... PT, will provide care from the clinic, which opened March 22, 2017. ...
(Date:3/24/2017)... ... March 24, 2017 , ... Mlynarek ... services to families and business owners across eastern Michigan, is connecting with the ... struggling with financial difficulties. , The Oxford/Orion FISH Food Pantry works to ensure ...
(Date:3/24/2017)... ... March 24, 2017 , ... In just two days, Aqua ... micro-veggies garden on Kickstarter . Surpassing the $100,000 milestone so quickly,10-times the ... consumers (and counting) already backing the campaign. , “We are very grateful ...
(Date:3/24/2017)... (PRWEB) , ... March 24, 2017 , ... ... Assili, announce that they are now offering treatments for sleep apnea and TMJ ... dental offices. Sleep apnea , specifically the obstructive type, is increasingly being ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)... , March 24, 2017 ... the industry including definitions, classifications, applications and industry chain ... international market including development history, competitive landscape analysis, and ... ... industry spread across 105 pages providing 10 company profiles ...
(Date:3/24/2017)... Research and Markets has announced the addition of the ... to their offering. ... report provides separate comprehensive analytics for the US, Canada ... Asia-Pacific , Latin America , and Rest ... through 2022. Also, a six-year historic analysis is provided for these markets. ...
(Date:3/24/2017)... -- Eli Lilly and Company (NYSE: LLY ... in its U.S. operations in 2017. The company,s ... research laboratories, manufacturing sites, and general and administrative ... for Lilly products, as well as its robust ... pain, diabetes and other unmet medical needs.  ...
Breaking Medicine Technology: