Boston Life Sciences Announces $5 Million Private Placement of Common Stock.BOSTON -- Boston Life Sciences, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BLSI BLSI Boston Life Sciences, Inc. ) announced that it has completed a $5 million private placement of common stock. Under the terms of the financing, the Company issued 2 million shares of common stock at a purchase price of $2.50 per share. The Company is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to file a registration statement upon the request of the investors in the financing covering the resale of the common stock. All shares purchased in the transaction are subject to a minimum holding period of one year. The securities to be offered in the proposed financing have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or a 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. Boston Life Sciences, Inc. (BLSI) is engaged in the research and clinical development of novel diagnostic and therapeutic products for central nervous system (CNS See Continuous net settlement. CNS See continuous net settlement (CNS). ) disorders. ALTROPANE(R), the company's lead product candidate, is in Phase III for the diagnosis of Parkinson's disease and Phase II for the diagnosis of Attention Deficit Hyperactivity Disorder attention deficit hyperactivity disorder (ADHD), formerly called hyperkinesis or minimal brain dysfunction, a chronic, neurologically based syndrome characterized by any or all of three types of behavior: hyperactivity, distractibility, and impulsivity. (ADHD Attention-Deficit/Hyperactivity Disorder (ADHD) Definition Attention-deficit/hyperactivity disorder (ADHD) is a developmental disorder characterized by distractibility, hyperactivity, impulsive behaviors, and the inability to remain focused on tasks or ). The Company's research and pre-clinical CNS programs include O-1369 for the treatment of Parkinson's disease and Inosine inosine /in·o·sine/ (I) (in´o-sen) a purine nucleoside containing the base hypoxanthine and the sugar ribose, which occurs in transfer RNAs and as an intermediate in the degradation of purines and purine nucleosides to uric acid and in for the treatment of stroke. BLSI's current research collaborations include Harvard Medical School Harvard Medical School (HMS) is one of the graduate schools of Harvard University. It is a prestigious American medical school located in the Longwood Medical Area of the Mission Hill neighborhood of Boston, Massachusetts. , Children's Hospital of Boston and the University of Massachusetts-Worcester. Statements in this press release regarding Boston Life Sciences' future financial performance including statements regarding results of operations and net loss, and any other statements about management's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Boston Life Sciences' actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including those factors contained in Boston Life Sciences' Annual Report on Form 10-K filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by Boston Life Sciences from time to time with the Securities and Exchange Commission. Forward-looking statements include statements regarding Boston Life Sciences' expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "should", "will", and "would" or similar words. Boston Life Sciences assumes no obligations to update the information in this press release. |
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