Navigation Links
Novelos Therapeutics Prices $5.4 Million Public Offering
Date:6/8/2012

MADISON, Wis., June 8, 2012 /PRNewswire/ -- Novelos Therapeutics, Inc. (OTCQX: NVLT), a pharmaceutical company developing novel drugs for the treatment and diagnosis of cancer, today announced the pricing of a public offering of 5,420,800 units at $1.00 per unit for gross proceeds of $5,420,800.  Each unit consists of one share of our common stock, a Class A Warrant with a five-year term to purchase one-half of a share of our common stock at an exercise price of $1.25 per share and a Class B Warrant with a 90-day term to purchase one share of our common stock at an exercise price of $1.00 per share.  Novelos expects to close the transaction, subject to customary conditions, on or about June 13, 2012.

Rodman & Renshaw, LLC, a wholly owned subsidiary of Direct Markets Holdings Corp. (NASDAQ: MKTS), is acting as exclusive placement agent for the offering. 

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction or to any person in any particular jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Rodman & Renshaw, LLC, Prospectus Department, 1251 Avenue of the Americas, New York, NY, 10020, telephone: 212-356-0500 or email: placements@rodm.com. Before any investment, an investor should read the prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, for more complete information about Novelos and this offering.INVESTOR CONTACTSJ. Patrick Genn, Vice President of IRAnne Marie Fields, Senior Vice PresidentNovelos Therapeutics, Inc.LHAPh: (858) 775-745Ph: (212) 838-3777Email: jpgenn@novelos.comEmail: afields@lhai.com, @LHA_IR_PRNovelos Therapeutics, Inc.

Madison, WI
Boston, MA

This news release contains forward-looking statements.  You can identify these statements by our use of words such as "may," "expect," "believe," "anticipate," "intend," "could," "estimate," "continue," "plans," or their negatives or cognates.
Such statements are valid only as of today, and we disclaim any obligation to update this information.  These statements are only estimates and predictions and are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made.  These statements are based on our current beliefs and expectations as to such future outcomes.  Drug discovery and development involve a high degree of risk.  Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and other government regulation, our  pharmaceutical collaborators' ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, product pricing and third-party reimbursement.


'/>"/>
SOURCE Novelos Therapeutics, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
2. Novelos Therapeutics Successfully Completes First Cohort In Phase 1b Solid Tumor Trial With I-131-CLR1404 (HOT) Cancer-Targeted Molecular Radiotherapeutic
3. Cell Therapeutics, Inc. (CTI) to Report First Quarter Financial Results on April 20
4. Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Chelsea Therapeutics International, Ltd. to Contact the Firm
5. Argos Therapeutics Secures $25 million Series D Financing to Commence Phase 3 ADAPT Study in Patients with Metastatic Renal Cell Carcinoma (mRCC) in Mid-2012
6. Zacks Industry Outlook Highlights: Eli Lilly, Forest Labs, ViroPharma, Novartis and United Therapeutics
7. Oxford BioTherapeutics Appoints Senior Industry Leader to Head its New Clinical Development Operations in Basel, Switzerland
8. Nektar Therapeutics Reports Financial Results for the First Quarter of 2012
9. Cara Therapeutics Licenses Novel Kappa Opioid Agonist, CR845, to Chong Kun Dang Pharmaceutical Corporation For South Korean Market
10. Frost & Sullivan: High Uptake of New Drug Therapies and Aging Population Expansion Keep the U.S. Retinal Therapeutics Market Buoyant
11. Zenobia Therapeutics, Inc. And BioBlocks, Inc. Announce Sale Of A Joint Fragment Library Ideal For Screening By All Popular Methods
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/20/2020)... ... 2020 , ... NeoTract, a wholly owned subsidiary of Teleflex ... announced that Jayant Uberoi, MD, Chesapeake Urology in Baltimore MD, has been designated ... achieved a high level of training and experience with the UroLift® System and ...
(Date:2/19/2020)... ... , ... Aspire Regenerative, a leader in offering therapies that restore healthy tissues ... weight-loss event on March 1, 2020. It will take place from 10:30 a.m. to ... During the event, physicians and pharmacists will lead an informative and insightful discussion on ...
(Date:2/19/2020)... (PRWEB) , ... February 19, 2020 , ... The Team ... equal access to medicine for everyone affected by diabetes, announced a partnership with VeloCity, ... , The third annual VeloCity event takes place on May 2nd and begins ...
Breaking Medicine Technology:
(Date:2/20/2020)... ... February 20, 2020 , ... R3 Medical Training announced its next ... will learn how to perform injections for all large and small joints along with ... from online videos. The best opportunity is to perform injections in a supervised setting. ...
(Date:2/19/2020)... ... February 19, 2020 , ... ... a grant of $10,000.00 from the Doug Flutie, Jr. Foundation for Autism. The ... students with autism. , The physical fitness program will include the hiring of ...
(Date:2/19/2020)... ... February 19, 2020 , ... MedTech IGNITE Expands Steering ... to Participate in 2020 Cohort , The Massachusetts Medical Device Industry Council ( ... accepting applications from startup founders and CEOs to participate in the 2020 IGNITE ...
(Date:2/19/2020)... ... February 19, 2020 , ... SEAL SHIELD, LLC - ... result of healthcare-acquired infections (HAIs.) According to The Centers for Disease Control (CDC), 80% ... large amount of screens that are now acting as an extension of people’s hands, ...
(Date:2/15/2020)... ... February 14, 2020 , ... UMF Corporation , ... Hospital , a member of Prisma Health, providing a comprehensive PCPLUS ... was able to cut its monthly laundry management costs in half, support infection ...
Breaking Medicine News(10 mins):