MISSISSAUGA, ON, Dec. 13 /CNW/ - YM BioSciences Inc. (NYSE Amex: YMI; TSX: YM), a life sciences product development company that identifies and advances
a diverse portfolio of promising cancer-related products at various
stages of development, today announced that it intends to offer and
sell shares of its common shares in an underwritten public offering.
Roth Capital Partners, LLC is acting as the sole book-running manager
for the offering and as the representative of the several underwriters,
which is expected to include JMP Securities LLC. Bloom Burton & Co. is
acting as financial advisor to YM BioSciences on the transaction. The
securities described above are being offered in the United States by
the Company pursuant to a registration statement filed with the
Securities and Exchange Commission (SEC), which became effective on
December 1, 2010.
A preliminary prospectus supplement relating to the offering will be
filed with the SEC and will be available on the SEC's website located
at www.sec.gov. When available, copies of the preliminary prospectus supplement, the
final prospectus supplement and accompanying base prospectus relating
to this offering can be obtained at the SEC's website at http://www.sec.gov. Interested parties may also contact Roth Capital Partners by e-mail to
email@example.com, by fax to (949) 720-7227, or by mail to 24 Corporate Plaza Drive,
Newport Beach, CA, 92660, Attention: Equity Capital Markets.
The offering is subject to market conditions and there can be no
assurance as to whether or when the offering may be completed, or as to
the actual size or terms of the offering. The offering is expected to
price before 9:30 am EST on Tuesday, December 14, 2010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be
any sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
About YM BioSciences
YM BioSciences Inc. is a drug development company advancing three
clinical-stage products: CYT387, a small molecule, dual inhibitor of
JAK1/JAK2 kinase; nimotuzumab, an EGFR-targeting monoclonal antibody;
and CYT997, a potent vascular disrupting agent (VDA).
CYT387 is an orally administered inhibitor of both the JAK1 and JAK2
kinase enzymes, which have been implicated in a number of immune cell
disorders including myeloproliferative disorders and inflammatory
diseases as well as certain cancers. CYT387 is currently in a Phase
I/II trial in myelofibrosis. Nimotuzumab is a humanized monoclonal
antibody targeting EGFR with an enhanced side effect profile.
Nimotuzumab is being evaluated in numerous Phase II and III trials
worldwide by YM's licensees. CYT997 is an orally-available small
molecule therapeutic with dual mechanisms of vascular disruption and
cytotoxicity, and is currently in a Phase II trial for glioblastoma
multiforme. In addition to YM's three clinical stage products, the
Company has a library of more than 4,000 novel compounds identified
through internal research conducted at YM BioSciences Australia which
are currently being evaluated.
This press release may contain forward-looking statements, which reflect
the Company's current expectation regarding future events. These
forward-looking statements involve risks and uncertainties that may
cause actual results, events or developments to be materially different
from any future results, events or developments expressed or implied by
such forward-looking statements. Such factors include, but are not
limited to, changing market conditions, the successful and timely
completion of clinical studies, the establishment of corporate
alliances, the impact of competitive products and pricing, new product
development, uncertainties related to the regulatory approval process
or the ability to obtain drug product in sufficient quantity or at
standards acceptable to health regulatory authorities to complete
clinical trials or to meet commercial demand; and other risks detailed
from time to time in the Company's ongoing quarterly and annual
reporting. Certain of the assumptions made in preparing forward-looking
statements include but are not limited to the following: that
nimotuzumab will continue to demonstrate a competitive safety profile
in ongoing and future clinical trials; that our JAK1/JAK2 inhibitor
CYT387 and our VDA small molecule CYT997 will generate positive
efficacy and safety data in future clinical trials; that YM and its
various partners will complete their respective clinical trials within
the timelines communicated in this release. This offering is subject to
market conditions and there can be no assurance as to whether or when
the offering may be completed, or as to the actual size or terms of the
offering. Except as required by applicable securities laws, we
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Gilead Sciences, Inc.
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