CHICAGO, April 8 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. , a biopharmaceutical company developing cethromycin, a novel once-a-day antibiotic, to treat respiratory tract infections and to combat bioterror threats, announced today that it has filed a shelf registration statement on Form S-3 with the US Securities and Exchange Commission ("SEC"). If and when the shelf registration statement is declared effective by the SEC, it will allow the Company to raise capital from time to time through the sale of common stock, preferred stock and/or equity warrants. While the aggregate amount of securities registered on the shelf registration statement is $35 million, the Company's ability to sell securities under the shelf registration statement in any given 12-month period is subject to certain SEC volume limitations relative to its non-affiliated market cap.
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"We have filed a shelf registration statement with SEC to allow the Company to access working capital in increments that are sensitive to shareholder dilution over the three-year term of the shelf," stated Michael Flavin, the Company's chairman and chief executive officer. "The flexibility of the registration statement will provide us with an efficient means to access capital as favorable market opportunities present themselves."
Any future offering and its specific terms will be subject to prevailing market conditions. An offering of securities covered by the shelf registration statement will be made only by means of a written prospectus and prospectus supplement. The Company currently intends to use the proceeds from any offerings under the registration statement for a variety of purposes including working capital, capital expenditures and general corporate purposes.
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall 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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Advanced Life Sciences
Advanced Life Sciences is a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer, respiratory diseases and biodefense. For more information, please visit us on the web at http://www.advancedlifesciences.com/.
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, among others, those relating to technology and product development, market acceptance, government regulation and regulatory approval processes, intellectual property rights and litigation, dependence on collaborative relationships, ability to obtain financing, competitive products, industry trends and other risks identified in Advanced Life Sciences' filings with the Securities and Exchange Commission. Advanced Life Sciences undertakes no obligation to update or alter these forward-looking statements as a result of new information, future events or otherwise.
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Advanced Life Sciences Holdings, Inc.
CONTACT: Joe Camp of Advanced Life Sciences Holdings, Inc.,
+1-630-754-4352, jcamp@advancedlifesciences.com
Web Site: http://www.advancedlifesciences.com/
