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Unigene Provides 2012 Business Outlook
Date:1/9/2012

BOONTON, N.J., Jan. 9, 2012 /PRNewswire/ -- Unigene Laboratories, Inc. (OTCBB: UGNE) today provided a business outlook for 2012 and highlighted multiple near-term catalysts that have the potential to monetize assets and unlock significant value over the next 12 months.  Management believes the key elements are in place to address the Company's debt and begin restructuring the balance sheet in 2012.  Unigene's CEO, Senior Management and Board of Directors signaled confidence and optimism in the Company's future with open market stock purchases on December 21, 2010.

Ashleigh Palmer, President and CEO, commented, "We are proud of the successful execution of our turnaround strategy throughout 2011.  We readied the Company to take advantage of favorable events such as the positive ORACAL and oral PTH Phase 2 proof-of-concept trial results and armed it to reduce the impact of unexpected events outside of our control.  In particular, a year ago, the Company would have been hard pressed to survive the consecutive announcements of Novartis' negative Phase 3 osteoporosis and osteoarthritis trial results and GSK's strategic decision against sponsoring the advanced development of our otherwise intact and licensable oral PTH program. With those events now behind us, Unigene's management team has emerged even more focused on our mission and extremely confident that we will continue to deliver on our strategic intent.  We believe our near-term value driving milestones will allow us to further extend our cash runway, address the debt we inherited and unlock the enormous growth potential and shareholder value that resides within Unigene."   

2012 Corporate Milestones

  • Publish detailed results of oral parathyroid hormone (PTH) analog positive Phase 2 proof-of-concept trial in peer review journal and/or prestigious scientific congress
  • Effectively partner oral PTH
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SOURCE Unigene Laboratories, Inc.
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