map511 schreef:
Weet een van de mensen die er verstand van hebben wat dit betekent voor de koers, ik hoop op een antwoord. Sinds kort heb ik deze aandelen, jammer genoeg gekocht voor 1,08, voordat de daling werd ingezet naar 71 cent.
PRW:US
Pro-Pharmaceuticals Inc
Pro-Pharmaceuticals Restructures Convertible Debentures
NEWTON, Mass.--(BUSINESS WIRE)--March 21, 2007 Pro-Pharmaceuticals, Inc. (Amex: PRW), a developer of novel carbohydrate compounds, today announced it has entered into definitive agreements with six of the seven investors holding the Company's 7% Convertible Debentures to exchange their Debentures for shares of the Company's common stock. Under the terms of the agreements, investors agree to exchange approximately $3.9 million of the $4.4 million in outstanding principal and interest, and any other amounts due under its Debenture, for shares of the Company's common stock priced at $0.75 per share, which will result in the issuance of approximately 5.2 million shares.
"We believe this exchange is in the best interest of the Company and its shareholders because it retires substantially all of the Debentures which had a "floorless" redemption provision," said Carl Lueders, Chief Financial Officer, Pro-Pharmaceuticals, Inc.
In addition, the exercise price of the associated warrants was reduced from $3.35 to $1.00. If all the warrants are exercised at the new price, that would result in the issuance of approximately 5 million shares of the Company's common stock.
Pro-Pharmaceuticals, Inc. - Advancing Drugs Through Glycoscience(R)
Pro-Pharmaceuticals, Inc. is engaged in the discovery, development, and commercialization of carbohydrate-based therapeutic compounds for advanced treatment of cancer, liver, microbial, cardiovascular, and inflammatory diseases. The Company's initial focus is the development of a new generation of anti-cancer treatments using carbohydrate polymers with the intent of enhancing the safety and efficacy of chemotherapy agents. The Company's technology capitalizes on the natural properties of carbohydrates to increase efficacy and reduce toxicity; "rescue" drugs that were shelved for toxicity or "half-life" issues; increase the solubility of existing drugs, and develop carbohydrate polymers as new chemical entities. The need to improve drug therapies, particularly anti-cancer agents, is significant and represents a large market opportunity. DAVANAT(R), the Company's lead drug candidate, is a polysaccharide (carbohydrate polymer) composed of mannose and galactose (galactomannan). The Company has been conducting clinical and pre-clinical studies with DAVANAT(R) in combination with 5-FU, leucovorin, irinotecan, doxorubicin, oxaliplatin, paclitaxel, cisplatin, and bevacizumab (Avastin(R)). Results show that DAVANAT(R) exhibits a broad spectrum of activity with tested drugs. The Company is developing additional carbohydrate-based therapeutic compounds that are currently in the pre-clinical stage of development. Founded in 2000, the Company is headquartered in Newton, Mass. Additional information is available at
www.pro-pharmaceuticals.com