BOTHELL, Wash., Oct. 19 /PRNewswire-FirstCall/ -- Nastech Pharmaceutical Company Inc. announced today that it has filed a shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission (SEC), pursuant to which Nastech may issue common stock from time to time, up to an aggregate of $125 million. While the Company has no current plans to access the capital markets, the shelf registration statement, once declared effective by the SEC, would allow Nastech to expeditiously access capital markets in the future subject to market conditions and the Company's capital needs.
The terms of any future offering would be established at the time of the offering with proceeds being used for general corporate purposes, including without limitation the funding of our clinical research and development programs, the clinical development of our product candidates, capital expenditures and working capital needs.
This press release is not an offer to sell or the solicitation of an offer to buy nor shall there be any sale of common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
A copy of the shelf registration statement as filed with the SEC on Form S-3 may be obtained at the SEC's website at www.sec.gov, or through the Investor Relations section of the Nastech website at www.nastech.com.
About Nastech
Nastech is a pharmaceutical company developing innovative products based on proprietary molecular biology-based drug delivery technologies. Nastech and its collaboration partners are developing products for multiple therapeutic areas including osteoporosis, diabetes, obesity, respiratory diseases and inflammatory conditions. Additional information about Nastech is available at www.nastech.com.
Nastech Forward Looking Statements
Statements made in this press release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of Nastech to obtain additional funding; (ii) the ability of Nastech to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) Nastech's and/or a partner's ability to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) Nastech's and/or a partner's ability to obtain required governmental approvals; and (v) Nastech's and/or a partner's ability to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in Nastech's most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. Nastech assumes no obligation to update and supplement forward-looking statements because of subsequent events.
CONTACTS: Nastech Ed Bell Senior Investor Relations Manager (425) 908-3639 ir@nastech.com Noonan Russo Matthew Haines (Investors/Media) (212) 845-4235
Nastech Pharmaceutical Company Inc.CONTACT: Ed Bell, Senior Investor Relations Manager, NastechPharmaceutical Company Inc., +1-425-908-3639, ir@nastech.com;Investors/Media: Matthew Haines of Noonan Russo, +1-212-845-4235
Web site: http://www.nastech.com/
