ImaRx began selling urokinase in October 2006. The Company acquired the product and all related assets, including an approximate four-year supply of inventory, from Abbott Laboratories (NYSE: ABT) in April 2006 for a total purchase price of $20 million. As of September 30, 2007 the Company has received aggregate net proceeds of approximately $14.4 million from sales of urokinase to its wholesalers and customers.
About ImaRx Therapeutics
ImaRx Therapeutics is a biopharmaceutical company developing and commercializing therapies for vascular disorders. The Company's research and development efforts are focused on therapies for stroke and other vascular disorders using its proprietary microbubble technology. ImaRx Therapeutics' commercialization efforts are currently focused on its product, urokinase for the treatment of acute massive pulmonary embolism.
Cautionary Statement For The Purpose Of The "Safe Harbor" Provisions Of The Private Securities Litigation Reform Act of 1995
Note: Statements made in this press release which are not historical in
nature constitute forward-looking statements for purposes of the safe
harbor provided by the Private Securities Litigation Reform Act of 1995.
Such statements include those related to our expectation that the FDA
acceptance of our lot release will allow the company to unlock additional
value from this asset and continue the commercialization of this product
and any inference that our submission requesting the FDA to release one lot
of urokinase drug product for commercialization will be allowed by the FDA.
These statements are based on management's current expectations and beliefs
and are subjec
|SOURCE ImaRx Therapeutics, Inc.|
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