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:5/24/2016)... Zealand , May 24, 2016 ... informatics solutions for the healthcare sector, has been named the ... Zealand Hi-Tech Awards 2016. Dr Bruce Davey ... acknowledgement for our team.  It,s really good to be recognised ... healthcare internationally. Our products are used in 35 countries around ...
(Date:5/24/2016)... May 24, 2016 Los ... terapia del mundo, introduce catéteres para la intervención ... OrbusNeich, una compañía global especializada en el suministro ... expandido su cartera incluyendo productos para tratar la ... Scoreflex™ PTA son los dispositivos de primera entrada ...
(Date:5/23/2016)... , May 23, 2016 ... Handling Equipment Market by Product (Wheelchair, Scooters, Medical ... (Bariatric Care, Critical Care, Wound), Accessories (Lifting, Transfer) ... to 2021", published by MarketsandMarkets, the patient handling ... Billion by 2021 at a CAGR of 10.5% ...
Breaking Medicine Technology:
(Date:5/25/2016)... ... May 25, 2016 , ... ... “Advancing Drug Development through Molecular Imaging.” The focus of ADDMI-IG will be geared ... discovery and development pipeline issues. Through ADDMI-IG WMIS will provide a platform for ...
(Date:5/25/2016)... ... May 25, 2016 , ... ... supporting the real time adjudication of medical service claims by Pharmacy Benefit Managers ... current medical claims management software. The TransactRx Cross Benefit Clearinghouse receives standard professional ...
(Date:5/25/2016)... ... ... than fifty years, we've suffered whiplash as each new scientific study seemed to contradict the ... advice – advice that was supposed to keep us healthy and slim. And what happened? ... considered to be overweight and more than 1 in 3 adults are considered to be ...
(Date:5/25/2016)... ... ... Consumer access to organic foods and grower access to food processers is about ... and other plant-based foods, will introduce the first consumer product (a new breakfast cereal) ... Organic Products. , The transitional designation means the cereal was made using at least ...
(Date:5/24/2016)... ... May 24, 2016 , ... According to an article ... people randomly assigned to reduce the amount of calories they consumed by 25% experienced ... body weight enjoyed better sleep, improved quality of life, and enhanced sexual function compared ...
Breaking Medicine News(10 mins):