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:10/7/2017)... 2017   Provista, a proven leader in ... in purchasing power, today announced a new resource area ... Newsroom is the online home for case studies, ... bios, news releases, slideshows and events. ... of resources at their fingertips, viewers can also watch ...
(Date:10/4/2017)... Mass. , Oct. 4, 2017  According to the Centers for ... the end of October . PhysicianOne Urgent Care is helping communities across ... Westchester, NY , by offering no-cost* flu shots through the ... as mandated by certain health insurance regulations. ... The best time to get a flu shot is by the ...
(Date:10/2/2017)... , Oct. 2, 2017  Eli Lilly and Company ... results for the third quarter of 2017 on Tuesday, ... call on that day with the investment community and ... The conference call will begin at 9 a.m. ... access a live webcast of the conference call through ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... Ellevate Network, the leading network for professional ... action towards gender equality at their inaugural Summit in New York City in June. ... a social audience of over 3 million. To watch the Mobilize Women video, ...
(Date:10/13/2017)... ... , ... “The Journey: From the Mountains to the Mission Field”: the story ... the Philippines. “The Journey: From the Mountains to the Mission Field” is the creation ... has taught all ages and currently teaches a class of ladies at her church, ...
(Date:10/12/2017)... Wis. (PRWEB) , ... October 12, 2017 , ... ... standard products to meet the demand of today’s consumer and regulatory authorities worldwide. ... of probiotic experts and tested to meet the highest standard. , These ...
(Date:10/12/2017)... ... October 12, 2017 , ... Dr. Parsa Mohebi, the ... medical article to the newly revamped Cosmetic Town journal section, featuring ... transplant procedure known as Follicular Unit Extraction (FUE). , Dr. Mohebi ...
(Date:10/12/2017)... ... October 12, 2017 , ... ... first interactive health literacy software tool, and the Cancer Patient Education Network (CPEN), ... patient education, today announce a new strategic alliance. , As CPEN’s strategic ...
Breaking Medicine News(10 mins):