Navigation Links
Marshall Edwards Receives $4 Million Subscription From Novogen In Rights Offering
Date:5/8/2012

SAN DIEGO, May 8, 2012 /PRNewswire/ -- Marshall Edwards, Inc. (Nasdaq: MSHL), an oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism, announced that its majority shareholder, Novogen Limited, has exercised rights to acquire $4 million of Units, subject to availability, in Marshall Edwards' ongoing rights offering following approval at a meeting of Novogen stockholders in Sydney on Monday.

Pursuant to the rights offering, Marshall Edwards distributed one subscription right for each share of common stock owned to holders of record as of 5:00 p.m., Eastern time, on March 30, 2012. Each subscription right entitles the holder to purchase one Unit, which consists of 0.5 shares of the Company's common stock and a warrant to purchase 0.25 shares of the Company's common stock. Holders of the Company's outstanding Series A warrants also received one subscription right for each share of common stock issuable pursuant to such warrants.

The offering also includes an over-subscription privilege, which entitles stockholders to purchase additional Units that remain unsubscribed at the expiration of the rights offering. If the offering is fully subscribed, gross proceeds will be approximately $7.6 million, before deducting fees and expenses. Marshall Edwards intends to use the net proceeds from the offering primarily to continue the clinical development of its two lead oncology drug candidates, ME-143 and ME-344.

The rights offering will expire at 5:00 p.m., Eastern time, on Friday, May 11, 2012.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Marshall Edwards, Inc. nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A copy of the prospectus for the rights offering may be obtained by contacting the Company's investor relations department at investor@marshalledwardsinc.com or (858) 369-7199.

About Marshall Edwards

Marshall Edwards, Inc. (Nasdaq: MSHL) is a San Diego-based oncology company focused on the clinical development of novel therapeutics targeting cancer metabolism. The Company's lead drug candidates, ME-143 and ME-344, have been shown in laboratory studies to interact with specific enzyme targets resulting in inhibition of tumor cell metabolism, a function critical for cancer cell survival. Marshall Edwards initiated a Phase I clinical trial of intravenous ME-143 in patients with solid refractory tumors in September 2011 and plans to present safety and pharmacokinetic data from the trial at the American Society of Clinical Oncology Annual Meeting in June 2012. The Company received approval of its Investigational New Drug application for ME-344 in April 2012 and initiated a Phase I clinical trial of intravenous ME-344 in patients with solid refractory tumors shortly thereafter. For more information, please visit www.marshalledwardsinc.com.

Under U.S. law, a new drug cannot be marketed until it has been investigated in clinical trials and approved by the FDA as being safe and effective for the intended use. Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our failure to successfully commercialize our product candidates; costs and delays in the development and/or FDA approval, or the failure to obtain such approval, of our product candidates; uncertainties or differences in interpretation in clinical trial results; our inability to maintain or enter into, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.


'/>"/>
SOURCE Marshall Edwards, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Marshall Edwards Submits Investigational New Drug Application for Oncology Drug Candidate ME-344
2. Marshall Edwards CEO to Present at Roth Capital Partners Growth Stock Conference
3. Marshall Edwards Announces Rights Offering to Stockholders
4. Marshall Edwards Adds $2 Million in Private Placement
5. Marshall Edwards Announces $2 Million Private Placement
6. Marshall Edwards Announces First Patient Dosed in Phase I Clinical Trial of Lead Oncology Drug Candidate ME-143
7. Marshall Edwards Announces Initiation of Phase I Clinical Trial of Lead Oncology Drug Candidate ME-143
8. Marshall Edwards Announces FDA Approval of Investigational New Drug Application for Lead Candidate ME-143
9. Marshall Edwards Announces Publication of Pre-Clinical Study Showing Activity in Chemotherapy-Resistant Ovarian Cancer Stem Cells
10. Marshall Edwards Announces Publication of Pre-Clinical Studies in Pancreatic Cancer
11. Marshall Edwards Announces Closing of Asset Purchase Agreement With Novogen
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/27/2017)... -- Summary This report provides all ... partnering interests and activities since 2010. Description The Partnering ... into the partnering activity of one of the world,s leading ... prepared upon purchase to ensure inclusion of the most up ... will be delivered in PDF format within 1 working day ...
(Date:3/27/2017)... IRVINE, Calif. , March 27, 2017  Cryoport, ... announced that it intends to offer shares of common ... shelf registration statement on file with the Securities and ... market and other conditions, and there can be no ... be completed, or as to the actual size or ...
(Date:3/27/2017)...  A new survey from the American ... Bidding Program (CBP) significantly reduced beneficiary choice and access ... choice forces beneficiaries to switch to unfamiliar or unsuitable ... AADE,s survey is the latest in a ... out the inherent problems with the CBP. Last year, ...
Breaking Medicine Technology:
(Date:3/28/2017)... ... 2017 , ... “A Prophets Bones”: a thrilling adventure that reveals the mystery of Kevin’s purpose. ... that his parents and teachers had asked of him that he had neglected to do, ... defy the Almighty Creator. There were some who would have felt themselves to be special ...
(Date:3/27/2017)... ... March 27, 2017 , ... The respected dental team at ... teeth without the extensive time commitment and aesthetic disadvantages of traditional braces can ... A custom-designed series of virtually invisible aligners are created for each patient and ...
(Date:3/27/2017)... White Plains, NY (PRWEB) , ... March 27, 2017 , ... ... honoring Root Canal Awareness Week by teaching their patients about the key role this ... canal therapy from an experienced endodontist. To better serve those who need a ...
(Date:3/27/2017)... Austin, TX (PRWEB) , ... March 27, 2017 , ... ... , Edward Buckingham MD, and his colleague, Sudeep Roy, MD, was recently published ... on Bipolar Electrocautery Efficacy in Rhytidectomy” details Drs. Buckingham and Roy’s study on the ...
(Date:3/27/2017)... (PRWEB) , ... March 27, 2017 , ... ... the organization behind the New England Journal of Medicine and NEJM Journal Watch, ... Knowledge+ Pediatrics Board Review was created by a panel of pediatricians from leading ...
Breaking Medicine News(10 mins):