Navigation Links
Labopharm announces pricing of US$20 million public offering of units
Date:2/12/2010

LAVAL, Québec and PRINCETON, NJ, Feb. 12 /PRNewswire-FirstCall/ - Labopharm Inc. (TSX: DDS; NASDAQ: DDSS) today announced that it has priced an underwritten public offering of 11,764,706 newly issued units at a public offering price of US$1.70 per unit. Each unit is comprised of one of the Company's common shares and a warrant to purchase 0.5 of a common share. Each whole warrant entitles the holder to acquire one common share of the Company upon payment of US$2.30 per share, exercisable at any time during the period beginning six months after the date of issuance and ending three years following the date of issuance. The gross proceeds to Labopharm, before underwriting discounts and commissions and other offering expenses, from the sale of the units are expected to be approximately US$20 million.

Deutsche Bank Securities is the sole book-running manager for this offering and Canaccord Adams, Dundee Capital Markets and Versant Partners are co-managers for this offering. The Company has granted the underwriters a 30-day option to purchase up to 1,764,706 additional units to cover over-allotments, if any. If the underwriters exercise their over-allotment option in full, gross proceeds from the offering, before underwriting discounts and commissions and other offering expenses, will be approximately US$23 million. The offering is expected to close on February 18, 2010, subject to customary closing conditions.

The units will be issued in the United States pursuant to the Company's effective shelf registration statement filed with the U.S. Securities and Exchange Commission and in Canada pursuant to a final short form base shelf prospectus filed with the securities regulatory authorities in each of the provinces of Canada. The offering is being made only by means of a prospectus supplement and accompanying final short form base shelf prospectus. Copies of the prospectus relating to this offering, when available, may be obtained by contacting Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey 07311-3988, telephone: 1-800-503-4611.

This press release does not and 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Labopharm Inc.

Headquartered in Laval, Canada with US offices in Princeton, New Jersey, Labopharm is an emerging leader in optimizing the performance of existing small molecule drugs using its proprietary controlled-release technologies. The Company's lead product, a unique once-daily formulation of tramadol, is now available in 17 countries around the world, including the U.S., Canada, major European markets and Australia. Its second product, OLEPTRO(TM), a novel formulation of trazodone for the treatment of major depressive disorder in adults, has received regulatory approval in the U.S. and is under regulatory review in Canada. Labopharm has initiated the European regulatory approval process for its third product, a twice-daily formulation of tramadol-acetaminophen. The Company also has a pipeline of follow-on products in both pre-clinical and clinical development.

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events, including statements concerning the Company's expectations related to the timing and closing of the offering of units. These forward-looking statements involve risks and uncertainties, many of which are beyond the Company's control, including risks and uncertainties relating to the completion of the contemplated offering of units. Actual events could differ materially from those projected herein and depend on a number of risks and uncertainties. For additional disclosure regarding these and other risks faced by Labopharm Inc., see the disclosure contained in its public filings in the U.S. with the Securities and Exchange Commission (SEC) and in Canada with the Canadian Securities Administrators (CSA), available on the Investor Relations section of the Company's website at www.labopharm.com and on the SEC's website at www.sec.gov and on the CSA's website at www.sedar.com. Investors are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, the Company undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events, or circumstances or otherwise.

OLEPTRO(TM) is a trademark of Labopharm Inc.

SOURCE Labopharm Inc.


'/>"/>
SOURCE Labopharm Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. Labopharm settles $1 million draw down under standby equity distribution agreement
2. Labopharm Initiates Regulatory Approval Process for Twice-Daily Tramadol-Acetaminophen in Europe
3. Labopharm Enters Into CAD$25 Million Standby Equity Distribution Agreement
4. Labopharm Reports Results for Third Quarter Fiscal 2009
5. Labopharm to present data on its novel trazodone formulation at three upcoming international medical meetings
6. Labopharms response for novel trazodone formulation accepted by FDA as complete - Designated as Class 2 resubmission
7. Labopharm submits response to FDA for novel antidepressant
8. Labopharm Reports Results for Second Quarter Fiscal 2009
9. Labopharm to present at Canaccord Adams 29th Annual Global Growth Conference
10. Labopharm to host conference call Friday, August 7, 2009 at 8:30 a.m. (ET)
11. Labopharm receives complete response letter from the U.S. FDA for novel antidepressant
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... York, NY (PRWEB) , ... May 27, 2016 , ... ... needing intervention to walk, the demand for a sustainable product to aid in the ... void and aid in the recovery of individuals with hemiplegia due to stroke. , ...
(Date:5/27/2016)... , ... May 27, 2016 , ... Beleza Medspa ... body fat composition regulations. This is the first time that Coolsculpting is being ... at least every six months to ensure they meet the prescribed body-fat standard, measured ...
(Date:5/27/2016)... ... 27, 2016 , ... With a team of certified experts, ... Aside from its GMP accreditation, Validation Center is also a registered authority of ... and staff. , Validation Center is ISO17025 accredited and only offers its clients ...
(Date:5/26/2016)... ... May 26, 2016 , ... ... of thousands of defective respirators, according to court documents and SEC filings. ... William and Becky Tyler v. American Optical Corporation, Case No. BC588866, Los Angeles ...
(Date:5/26/2016)... ... 2016 , ... On Memorial Day, Hope For Heroes and USA ... battle for the country. The nonprofit Hope For Heroes partnered with the leading ... independence for disabled military veterans, as well as police, firemen, and EMS professionals across ...
Breaking Medicine News(10 mins):
(Date:5/27/2016)... 2016  A new study highlights the necessity of health literacy within the technology ... American College of Radiology , a majority of oncology patients undergo imaging screenings without ... http://photos.prnewswire.com/prnh/20160527/373022 ... ... Medical Diagnostic Imaging Ampronix ...
(Date:5/27/2016)... 2016 Amarantus BioScience Holdings, Inc. ... for Regenerative Medicine, Neurology and Orphan Diseases, today announced that President ... two upcoming investor conferences: SeeThru Equity MicroCap Conference ... New York City , NY When: Tuesday, ... MicroCap Conference   Where: Grand Hyatt Hotel, 109 East ...
(Date:5/26/2016)... 2016   Change Healthcare , a ... solutions and technology-enabled services designed to enable ... a strategic channel partnership with SourceMed, the ... and revenue cycle management services that empower ... clinics to optimize revenue, operational efficiency and ...
Breaking Medicine Technology: