Navigation Links
Radient Pharmaceuticals Corporation Completes Restructurings with Institutional Investors to Limit Conversions and Stock Sales and Provide for Potential Additional Capital
Date:11/29/2011

TUSTIN, Calif., Nov. 29, 2011 /PRNewswire/ -- Radient Pharmaceuticals Corporation  (OTCQX:RXPC) (OTCPK:RXPC), developer and marketer of the Onko-Sure® In Vitro Diagnostic (IVD) cancer test, today announced it has completed restructurings with each of the company's 2011 Noteholders (who hold convertible notes and shares of Series A Convertible Preferred Stock) and Alpha Capital Anstalt ("Alpha") and Whalehaven Capital Fund Ltd. ("Whalehaven").  The restructurings allow the company to satisfy its obligations to each of the 2011 Noteholders and each of Alpha and Whalehaven over a lengthened time-frame. In addition to the extension of maturity of the notes and preferred stock, a key feature of these restructurings was that each of the 2011 Noteholders and each of Alpha and Whalehaven each separately agreed with us to limit their respective daily sales of our common stock.

A detailed description of the various agreements entered into in connection with the restructurings, together with the forms of agreements, are contained in a Current Report on Form 8-K filed by the Company with the SEC on November 29, 2011.

"Completing these restructurings was a necessary step forward for Radient. Extending the maturity of defaulted indebtedness and preferred stock and having each noteholder agree with us to limit its sales of our common stock is a significant achievement in the life of Radient and the product of extensive efforts and negotiations.  This alleviates an immediate financial burden on Radient and allows Radient to focus on gaining traction on its sales of Onko-Sure domestically and internationally," stated Radient Chairman and CEO, Mr. Douglas MacLellan.

"While our potential for revenue growth based upon our currently approved indications in various markets across the world remains significant, we are now positioned to make strategic investments in research and development supporting regulatory clearances for new cancer indications.  We are confident that having the maturities extended and selling limitations in place will enable all Radient Pharmaceutical shareholders to benefit from our growth," added MacLellan.

For additional information on Radient Pharmaceuticals Corporation and its products visit: www.radient-pharma.com or e-mail info@radient-pharma.com. For Investor Relations contact Paul Knopick at: pknopick@eandecommunications.com or 949-707-5365.

About Radient Pharmaceuticals:

Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared In Vitro Diagnostic Onko-Sure® cancer test kit for colorectal cancer treatment and recurrence monitoring. The Company's focus is on the discovery, development and commercialization of unique high-value diagnostic tests that will help physicians answer important clinical questions related to early disease state detection, treatment strategy, and the monitoring of disease progression or recurrence. To learn more about our company, products, and potentially life-saving cancer test, visit www.radient-pharma.com.

Forward-Looking Statements:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.


'/>"/>
SOURCE Radient Pharmaceuticals Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Radient Pharmaceuticals Asks DHS Holding Co. to Retract News Release Saying It Will Enter Into Talks With Radient Pharmaceuticals Corporation
2. Radient Pharmaceuticals Announces FY 2011 Third Quarter Results
3. Merriman Capital Announces Sponsorship of Radient Pharmaceuticals Corporation on OTCQX
4. Radient Pharmaceuticals Corporation Joins OTCQX
5. Use of PressureWire(R) Yields a More Accurate Assessment of Translesion Pressure Gradients in Peripheral Vasculature, Two New Studies Report
6. Qualitest Pharmaceuticals Receives FDA Approval for Myzilra™ Tablets (Levonorgestrel and Ethinyl Estradiol Tablets, USP), 0.05 mg/0.03 mg, 0.075 mg/0.04 mg, 0.125 mg/0.03 mg (28 - Day TriPhasic Regimen)
7. Kahn Swick & Foti, LLC Announces Class Action Settlement on Behalf of Purchasers of Publicly-Traded Securities of Acura Pharmaceuticals, Inc. -- ACUR
8. Auxilium Pharmaceuticals to Present at the Oppenheimer 22nd Annual Healthcare Conference
9. OncoSec to Present at 15th Annual Biotech and Specialty Pharmaceuticals Conference
10. Inspiration Biopharmaceuticals Initiates Second Pivotal Clinical Study of Innovative Hemophilia Therapy OBI-1
11. Arena Pharmaceuticals to Present at the Piper Jaffray 23rd Annual Health Care Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... -- Stealth BioTherapeutics Inc. ( Stealth ), a clinical-stage biopharmaceutical ... new additions to its senior leadership team: W. ... Daniel Geffken as interim Chief Financial Officer. ... Pharm.D. has been promoted to Chief Clinical Development Officer. ... and Daniel to our management team, as both will ...
(Date:1/19/2017)... January 19, 2017 ... Oncology & Haematology, 2016;12(Suppl 2):3-8; http://www.touchoncology.com/articles/optimising-clinical-outcomes-gastrointestinal-cancers-through-inhibiting-angiogenesis-and ... ... Published recently in a supplement to ... from touchONCOLOGY, an article by James Gilbart ...
(Date:1/19/2017)... , January 19, 2017 ... Otsuka in the Milner Therapeutics Consortium   ... in Cambridge   ... PFE ) as a partner to the ... Consortium, which enables the efficient transfer of materials between ...
Breaking Medicine Technology:
(Date:1/20/2017)... , ... January 20, 2017 , ... “The Angel”: ... Lord has set out for each of his children. “The Angel” is the creation ... of Music in New York City, and impassioned writer. , When asked of her ...
(Date:1/20/2017)... ... ... in Suffolk”: a story of love, secrets, and mystery. “Christmas in Suffolk” is ... works in a daycare and looks for inspiration in the local coffee shop as ... Seymour’s new book is an adventure of love and secrets. , After ...
(Date:1/20/2017)... ... January 20, 2017 , ... “God's Miracle Man: Against ... Odds” is the creation of published author, Keith C. A. Tucker, son of Minister ... Fellowship World Outreach pastured by Reverend Mark Hardy , “While sitting up in bed, ...
(Date:1/19/2017)... (PRWEB) , ... January 19, 2017 , ... ... 5,000 SF expansion and facility enhancement of their 503A compounding pharmacy located in ... the growing demand of physicians and patients throughout the United States for high-quality ...
(Date:1/19/2017)... ... January 19, 2017 , ... WhoHaha , a digital media ... American Heart Association (AHA) to produce a three-part video series that uses humor to ... part of the launch of AHA’s Healthy For Good™ movement, which is designed to ...
Breaking Medicine News(10 mins):