Santhera Receives CHF 13.4 Million Through Sale of Treasury Shares
LIESTAL, Switzerland, Aug. 15, 2014 (GLOBE NEWSWIRE) -- Santhera Pharmaceuticals (OTCBB:SPHDF) (SIX:SANN) today announced that it completed the sale of 200,000 registered shares of common stock at an average price of CHF 66.85 per share, a 4.3% premium to yesterday's closing price. The Company received CHF 13.4 million in gross proceeds from the sale. The shares were sold by an independent broker within a period of one month. The new capital provides the Company with sufficient funds to pursue its regulatory submissions, to proceed with its ongoing clinical development activities and to support the preparation for market entry for Raxone®/Catena®.
The treasury shares with a par value of CHF 1.00 were issued from the Company's conditional capital. The newly issued shares represent 4.1% of the Company's total outstanding share capital of CHF 4,911,728.
"This additional capital provides us with a strong cash position to execute our business plan," stated Thomas Meier, CEO of Santhera. "Together with increasing income from our product sales, particularly resulting from the temporary approval of our lead compound Raxone for LHON in France, it allows us to continue to advance our important regulatory and other development projects and to prepare the European market entry for Raxone planned for the second half of 2015. We much appreciate the support by investors who share our commitment to develop innovative treatments for rare and devastating neuromuscular and mitochondrial diseases."
Santhera Pharmaceuticals (SIX:SANN) is a Swiss specialty pharmaceutical company focused on the development and commercialization of innovative pharmaceutical products for the treatment of orphan mitochondrial and neuromuscular diseases. Santhera develops Catena®/Raxone® as treatment for patients with Leber's Hereditary Optic Neuropathy (LHON), Duchenne Muscular Dystrophy (DMD) and Primary Progressive Multiple Sclerosis (PPMS) and omigapil for Congenital Muscular Dystrophies (CMD), all areas of high unmet medical need for which no therapies are currently available. For further information, please visit the Company's website www.santhera.com.
Raxone® and Catena® are trademarks of Santhera Pharmaceuticals.
Disclaimer / Forward-looking statements
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Santhera Pharmaceuticals Holding AG. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements. CONTACT: For further information, contact Thomas Meier, Chief Executive Officer Phone +41 61 906 89 64 email@example.com US Investor contact Andrew McDonald PhD. Phone +1 646 597 6979 firstname.lastname@example.org
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