Navigation Links
Radient Pharmaceuticals Corporation Receives $500,000 in New Capital
Date:12/1/2011

TUSTIN, Calif., Dec. 1, 2011 /PRNewswire/ -- Radient Pharmaceuticals Corporation (the "Company") (OTCQX:RXPC), a developer and marketer of the Onko-Sure® In Vitro Diagnostic (IVD) cancer test, announced that all of the holders of its Series B Warrants have exercised such warrants as compelled by the terms thereof, for 50,000 shares of Series C Convertible Preferred Stock of the Company in the aggregate. The aggregate exercise price for all of the 50,000 shares was $500,000, and such capital was received by Radient on November 30, 2011. After paying legal fees associated with the restructuring transactions described in the Current Report on Form 8-K that we filed on November 29, 2011, we received net proceeds of  $435,000.

Further details relating to this exercise are described in a December 1, 2011, Current Report on Form 8-K filed by the Company with the SEC.

In addition to the Series B Warrant exercises, in connection with its restructuring of the Company's convertible notes and preferred stock announced in a press release dated November 29, 2011 (the terms of which are set forth in the Company's Form 8-K filed with the SEC on November 29, 2011), the Company issued to the 2011 Noteholders its Series A Warrants entitling the holders to purchase shares of the Company's common stock.  Subject to certain conditions, including our registration under the Securities Act of 1933, as amended, of all or an agreed upon portion of the common stock issuable upon exercise of the Series A Warrants, if fully exercised for cash by the Series A Warrant holders, the Company could receive as much as $17 million in additional capital.  There can be no assurance that any of such Series A Warrants will be exercised by the holders for cash.

"Receipt of this capital coupled with the potential for additional capital in the future, definitely helps the Company in the short term and provides a potential long term path for Radient to gain traction in connection with the development and commercialization of sales of Onko-Sure domestically and internationally," stated Radient Chairman and CEO, Mr. Douglas 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. Use of PressureWire(R) Yields a More Accurate Assessment of Translesion Pressure Gradients in Peripheral Vasculature, Two New Studies Report
2. Radient Pharmaceuticals Corporation Joins OTCQX
3. Merriman Capital Announces Sponsorship of Radient Pharmaceuticals Corporation on OTCQX
4. Radient Pharmaceuticals Announces FY 2011 Third Quarter Results
5. Radient Pharmaceuticals Asks DHS Holding Co. to Retract News Release Saying It Will Enter Into Talks With Radient Pharmaceuticals Corporation
6. Radient Pharmaceuticals Corporation Completes Restructurings with Institutional Investors to Limit Conversions and Stock Sales and Provide for Potential Additional Capital
7. Auxilium Pharmaceuticals, Inc. Receives Clearance to Resume Clinical Trials for XIAFLEX(TM)
8. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
9. Solvay Pharmaceuticals, Inc. and Wyeth Pharmaceuticals Announce Receipt of an FDA Action Letter for Bifeprunox, an Investigational Treatment for Schizophrenia
10. Callisto Pharmaceuticals Opens Additional Sites for Phase II Clinical Trial of Atiprimod in Advanced Carcinoid Cancer Patients
11. WallSt.net (www.wallst.net) Updates the Investment Community Through an All-New Interview With RegeneRx Biopharmaceuticals CEO
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/29/2017)... , March 29, 2017  Zynex (OTCQB: ZYXI), an ... sale of non-invasive medical devices for pain management, stroke ... it will host the Company,s 2016 full-year investor webcast ... Time.) The Company expects to file its ... ...
(Date:3/29/2017)... N.J. , March 29, 2017  Glenmark ... results for GSP 301, an investigational fixed-dose combination ... (665 mcg) administered twice-daily as a nasal spray ... rhinitis. These results are from a recently completed ... of GSP 301 combination therapy versus mometasone, olopatadine ...
(Date:3/29/2017)... -- Maxor National Pharmacy Services, LLC ("Maxor"), a leading pharmacy ... Leah Bailey as General Counsel.  Bailey will serve as ... With more than 13 years of experience in ... health care, Bailey joins the Maxor team coming from ... the PBM, Specialty, and Mail Order business areas on ...
Breaking Medicine Technology:
(Date:3/29/2017)... ... March 29, 2017 , ... In the United States alone, up to 36% ... other types of metastatic brain tumors(3). Though most meningiomas are benign, metastatic brain tumors ... finding more effective treatment options, the San Diego Gamma Knife Center offers ...
(Date:3/29/2017)... ... ... Youth Futures International (YFI) premiered its Serve, Learn, & Empower program in 2009 ... have participated in the program every summer. The 2017 Serve, Learn, & Empower ... Visit http://www.ghana.yfiexperience.org to learn more. , “I have sent my daughter ...
(Date:3/29/2017)... ... March 29, 2017 , ... The Wall Centre Dental ... new patients from Burnaby, BC. Patients in need of experienced orthodontics, laser dentistry, ... see the esteemed team at Wall Centre Dental. Drs. Parviz Roshan, Siamak Tehrani, ...
(Date:3/29/2017)... ... March 29, 2017 , ... How big is ... facilities, and who are the most active developers? , In the first ... Real Estate Insights (HREI) found that outpatient medical real estate development projects totaling ...
(Date:3/29/2017)... Linda, Ca (PRWEB) , ... March 29, 2017 ... ... standard process in many scientific laboratories. The assembly protocols involve many repetitive steps ... well suited for automation, which enables the high-throughput needed, and results in a ...
Breaking Medicine News(10 mins):