Navigation Links
PharmAthene Secures $7.5 Million Credit Facility From GE Capital, Healthcare Financial Services
Date:4/3/2012

ANNAPOLIS, Md., April 3, 2012 /PRNewswire/ -- PharmAthene, Inc. (NYSE Amex: PIP) today announced that it has secured $7.5 million in senior secured credit facilities from GE Capital, Healthcare Financial Services consisting of a $2.5 million term loan and a revolving line of credit of up to $5 million.

Linda L. Chang, Senior Vice President and Chief Financial Officer, commented, "We are very pleased to partner with GE Capital – a recognized leader in healthcare financing.  This financing further strengthens our balance sheet and provides us with increased flexibility to manage our working capital requirements."

"Our expected 2012 monthly cash burn is less than $500,000 per month based on currently projected activities on our contracts," Ms. Chang continued. "Given that PharmAthene had $19.2 million in cash and cash equivalents, short term investments, and net receivables as of December 31, 2011, this financing provides an additional liquidity cushion until the time in 2013 when we anticipate receiving final resolution of the litigation with SIGA Technologies."

For a summary of the terms of the credit facility, see the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on the date hereof.

About PharmAthene, Inc.

PharmAthene was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons.  PharmAthene's lead product development programs include:

  • SparVax™ a second generation recombinant protective antigen (rPA) anthrax vaccine
  • Valortim® a fully human monoclonal antibody for the prevention and treatment of anthrax infection
  • Recombinant BChE a novel bioscavenger for
    '/>"/>

SOURCE PharmAthene, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. PharmAthene to Present at the 24th Annual ROTH Conference on Monday, March 12, 2012
2. PharmAthene to Present at the Noble Financial Eighth Annual Equity Conference on Tuesday, January 17, 2012
3. PharmAthene Reports Third Quarter 2011 Financial and Operating Results
4. PharmAthene Progresses Second Generation rPA Anthrax Vaccine
5. PharmAthene Appoints Brian A. Markison to the Companys Board of Directors
6. PharmAthene Achieves Significant Progress in SparVax™ Anthrax Vaccine Program
7. Department of Defense Awards $5.7 Million Contract to PharmAthene for Nerve Agent Medical Countermeasure Program
8. PharmAthene Selected for Inclusion in the Russell Global Index and Russell 3000 Index
9. PharmAthene Achieves Anthrax Vaccine Program Milestone and Successfully Completes Technology Transfer
10. PharmAthene Completes $6.5 Million Registered Direct Offering
11. PharmAthene Reports First Quarter 2011 Financial and Operating Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/19/2014)... September 19, 2014 BioTech News ... patents and results of studies and trials.  Companies in ... Company (NYSE: LLY ), Gilead Sciences Inc. ... CELG ) and Arena Pharmaceuticals Inc. (NASDAQ: ARNA) ... developing prodrug therapeutics for the treatment of cancer, announced ...
(Date:9/19/2014)... -- Dublin ... the addition of the  "Micro Market Monitor : ...      (Logo: http://photos.prnewswire.com/prnh/20130307/600769) , , ,The ... segments in the chromatography market. The market was ... to reach $2.0 billion by 2019, at a ...
(Date:9/18/2014)... USA (PRWEB) September 18, 2014 Bipartisan ... of a bill designed to stimulate development and commercialization ... is being praised by leaders of SPIE, the ... the Revitalizing American Manufacturing and Innovation (RAMI) Act, now ... bill’s authors have said they are optimistic that it ...
(Date:9/18/2014)... 18, 2014 /PRNewswire-iReach/ -- DeepResearchReports.com adds "2014 Deep ... Industry" and "2014 Deep Research Report on Global ... research database. Photo - http://photos.prnewswire.com/prnh/20140918/147058 ... on Global and China Acetic Acid Industry" is ... China and Global Acetic Acid ...
Breaking Biology Technology:Biotech Companies Pushing Sector Higher With Recent Therapeutic Advancements & Patent Approvals - Company Wins Summary Judgment For Prodrug Patent 2Biotech Companies Pushing Sector Higher With Recent Therapeutic Advancements & Patent Approvals - Company Wins Summary Judgment For Prodrug Patent 3Biotech Companies Pushing Sector Higher With Recent Therapeutic Advancements & Patent Approvals - Company Wins Summary Judgment For Prodrug Patent 4Biotech Companies Pushing Sector Higher With Recent Therapeutic Advancements & Patent Approvals - Company Wins Summary Judgment For Prodrug Patent 5Biotech Companies Pushing Sector Higher With Recent Therapeutic Advancements & Patent Approvals - Company Wins Summary Judgment For Prodrug Patent 6Biotech Companies Pushing Sector Higher With Recent Therapeutic Advancements & Patent Approvals - Company Wins Summary Judgment For Prodrug Patent 7Micro Market Monitor : Global Pre-packed Chromatography Columns 2House passage of high-tech manufacturing bill is move toward stronger economy, say SPIE leaders 2House passage of high-tech manufacturing bill is move toward stronger economy, say SPIE leaders 3Acetic Acid Market & Sodium Stannate Industry (China, Global) Research Report 2Acetic Acid Market & Sodium Stannate Industry (China, Global) Research Report 3Acetic Acid Market & Sodium Stannate Industry (China, Global) Research Report 4
... In conjunction with,its third quarter 2007 earnings release (expected to ... CVD ) is pleased to invite you to,listen to ... the Internet on Thursday, October 25 at 9:00 a.m. ET. ... and Slide Presentation When: October 25, 2007, ...
... Pharmasset, Inc.,(Nasdaq: VRUS ) has entered into ... Subject to certain terms and conditions of,the agreement, Horizon ... At its option, Pharmasset may receive a second loan ... loan of $10 million by November 30, 2008,provided conditions ...
... Inc.,(Nasdaq: COHR ) today announced that, as anticipated, ... Determination letter indicating that,the Company is not currently in ... Rules 4350(e) and 4350(g) due to,its failure to hold ... September 30, 2007. The notice stated that the failure ...
Cached Biology Technology:Pharmasset Accesses up to $30 Million of Working Capital 2Pharmasset Accesses up to $30 Million of Working Capital 3Coherent, Inc. Receives Expected Letter from NASDAQ 2
(Date:9/18/2014)... September 18, 2014 Elsevier, a world-leading provider ... services, and the Australasian Research Management Society (ARMS), ... scientists at the 5th Scopus Young Researcher of ... earlier today at the National Convention Centre and ... was attended by guests representing Australia,s and New ...
(Date:9/18/2014)... roaches of the fish world, are the ideal animal ... shape. They,ve moved from the ocean into tens of ... each time changing their skeleton to adapt to the ... populations of sticklebacks now have turned up one of ... a simple change in that gene,s regulation in a ...
(Date:9/18/2014)... found clownfish larvae can swim up to 400 kilometres in ... cope with environmental change. , Clownfish spend their entire adult ... babies they must wander the open ocean, says study co-author, ... Coral Reef Studies (Coral CoE) at James Cook University. , ... now we,ve been given a rare glimpse into how far ...
Breaking Biology News(10 mins):Elsevier and Australasian Research Management Society award scientists at Scopus ceremony 2Counting fish teeth reveals regulatory DNA changes behind rapid evolution, adaptation 2Counting fish teeth reveals regulatory DNA changes behind rapid evolution, adaptation 3Nemo's epic journey to find a new home 2
... Hoboken, N.J.February 19, 2013John Wiley & Sons, Inc., announced today ... Microbial Biotechnology have joined the Wiley Open Access ... open access and free to view, download and share. ... Molecular Medicine has attracted very high quality submissions and ...
... was only something that was necessary to keep your car ... and animals living in cold climates have natural antifreeze proteins ... matter. Without such antifreeze, living matter would suffer from frost ... proteins is one of the major evolutionary routes taken by ...
... Whales are mammals, but they don,t look like the mammals ... tail, no hind legs and no body hair. And inside ... simpler and ,peg like,. A multidisciplinary team of researchers have ... process to investigate how the whale got its teeth. ...
Cached Biology News:Established journals to publish under open access model 2Not just cars, but living organisms need antifreeze to survive 2Not just cars, but living organisms need antifreeze to survive 3How the whale got its teeth 2How the whale got its teeth 3
PEG 8000, Molecular Biology Grade...
...
... (HDAC) Antibody Sampler Kit Kit Includes: ... #2062, 40 ul Histone Deacetylase 3 (HDAC3) ... 4 (HDAC4) Antibody, Catalog #2072, 40 ul ... 40 ul Histone Deacetylase 6 (HDAC6) Antibody, ...
Recombinant Mouse Matrilin-4, CF Protein Family: Extracellular Matrix Molecules, Chondrogenesis Markers...
Biology Products: