Bioenvision Announces Registered Direct Offering of $30 Million in Common Stock
02 Avril 2007 - 12:59PM
Business Wire
Bioenvision, Inc. (Nasdaq: BIVN) today announced that it had priced
its registered direct offering of 8 million shares of common stock
at a price to the public of $3.75 per share. The shares are being
offered under Bioenvision�s effective shelf registration statement
previously filed with the Securities and Exchange Commission.
Proceeds to Bioenvision from this registered direct offering, net
of offering expenses and placement agency fees, total approximately
$27.6 million. J.P. Morgan Securities Inc. acted as the exclusive
placement agent in this offering. The closing of the transaction is
expected to occur on or about April 4, 2007, subject to the
satisfaction of customary closing conditions. This press release
does not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. About
Bioenvision Bioenvision's primary focus is the acquisition,
development and marketing of compounds and technologies for the
treatment of cancer. Bioenvision has a broad pipeline of products
for the treatment of cancer, including: Evoltra�, Modrenal� (for
which Bioenvision has obtained regulatory approval for marketing in
the United Kingdom for the treatment of post-menopausal breast
cancer following relapse to initial hormone therapy), and other
products. Bioenvision is also developing Suvus�, which is currently
in clinical development for refractory chronic hepatitis C
infection. For more information on Bioenvision please visit our Web
site at www.bioenvision.com. Certain statements contained herein
are "forward-looking" statements (as such term is defined in the
Private Securities Litigation Reform Act of 1995). Because these
statements include risks and uncertainties, actual results may
differ materially from those expressed or implied by such
forward-looking statements. Specifically, factors that could cause
actual results to differ materially from those expressed or implied
by such forward-looking statements include, but are not limited to:
risks associated with preclinical and clinical developments in the
biopharmaceutical industry in general and in Bioenvision's
compounds under development in particular; the potential failure of
Bioenvision's compounds under development to prove safe and
effective for treatment of disease; uncertainties inherent in the
early stage of Bioenvision's compounds under development; failure
to successfully implement or complete clinical trials; failure to
receive marketing clearance from regulatory agencies for our
compounds under development; acquisitions, divestitures, mergers,
licenses or strategic initiatives that change Bioenvision's
business, structure or projections; the development of competing
products; uncertainties related to Bioenvision's dependence on
third parties and partners; and those risks described in
Bioenvision's filings with the SEC. Bioenvision disclaims any
obligation to update these forward-looking statements.
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