Bone Care International Inc. Announces $10.25 Million Public Offering.MADISON, Wis.--(BUSINESS WIRE)--July 23, 1998--Bone Care International Inc. today announced that it has received commitments to purchase 1.326 million shares in a directed public offering of common stock at a price of $8.00 per share. This price is approximately 5 percent below the average trading price Trading price The price at which a security is currently selling. over the last 30 days. Certain directors of the company have agreed to purchase 276,000 of these shares. The company anticipates receiving proceeds of $10.258 million from this offering. The sale is expected to close Friday, July 24, 1998. Yesterday, the Securities and Exchange Commission declared effective a registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities. The company will sell all shares directly to investors and incur no underwriting costs in the transaction. The company intends to use a portion of the proceeds from this offering to finalize a second New Drug Application (NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any ) submission to the U.S. Food and Drug Administration (FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ) for an intravenous formulation of one-alpha D2. This second NDA will request marketing approval for the indication of secondary hyperparathyroidism secondary hyperparathyroidism Endocrinology ↑ Parathyroid activity with overproduction of PTH due to parathyroid hyperplasia in response to an extraparathyroid defect that results in ↓ Ca2+ Etiology Rickets, vitamin D deficiency, chronic renal failure associated with end-stage renal disease End-stage renal disease (ESRD) Total kidney failure; chronic kidney failure is diagnosed as ESRD when kidney function falls to 5-10% of capacity. Mentioned in: Chronic Kidney Failure end-stage renal disease . The company previously submitted an NDA for an oral formulation of one-alpha D2 on March 9, 1998, for the same indication. The FDA accepted this first NDA for full review on May 8, 1998. The company also anticipates using proceeds from this offering for commercialization activities associated with these products, and for working capital and general corporate purposes. Bone Care International is an emerging pharmaceutical company which is developing vitamin D-hormone therapies with improved safety and efficacy profiles for treatment of (a) secondary hyperparathyroidism associated with end-stage renal disease, pre-dialysis renal disease Renal disease Kidney disease. Mentioned in: Glycogen Storage Diseases hypertension High blood pressure Cardiovascular disease An abnormal ↑ systemic arterial pressure, corresponding to a systolic BP of > 160 mm Hg , and osteoporosis, and (b) certain hyperproliferative diseases, including psoriasis and cancers of the breast, prostate and colon. Editors' note: The "2" in "one-alpha D2" in this press release should be subscripted.
CONTACT: Bone Care International Inc., Madison
Dale W. Gutman, 608/236-2590
Fax: 608/236-2525
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