UNIGENE LABORATORIES EXTENDS CLASS B WARRANT EXPIRATION DATE
UNIGENE LABORATORIES EXTENDS CLASS B WARRANT EXPIRATION DATE FAIRFIELD, N.J., May 13 /PRNewswire/ -- Unigene Laboratories, Inc.
(NASDAQ: UGNE), today announced that it is extending the expiration date of its Class B warrants (NASDAQ: UGNEZ) by one year to Aug. 11, 1993. The Class B warrants are currently exercisable at $5.00 for one share of common stock.
"Unigene is in excellent financial condition and we are very encouraged regarding the progress of our internal programs and optimistic about the prospects for developing strategic relationships involving our major technologies. However, the well documented recent trend towards lower share prices throughout the pharmaceutical and biotechnology industries has created undue pressure on many of our investors," stated Warren P. Levy, president of Unigene. "We therefore feel that, at this time, it is in the best interests of both our common stockholders and our warrantholders for us to extend the expiration date of the Class B warrants." Unigene Laboratories, Inc., has developed a proprietary amidation process capable of producing peptide hormones for the treatment of a variety of diseases and disorders including osteoporosis, diabetes and hypertension. -0- 5/13/92 /CONTACT: William Steinhauer of Unigene Laboratories, 201-882-0860/ (UGNE) CO: Unigene Laboratories, Inc. ST: New Jersey IN: MTC SU:
GK-LR -- NY002 -- 9458 05/13/92 08:00 EDT
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|Date:||May 13, 1992|
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