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:12/19/2014)... 18, 2014 Relmada Therapeutics, Inc. (OTCQB: RLMD), ... of chronic pain, announced the results of its annual ... was a transformational year in Relmada,s history and it ... company," said Sergio Traversa , chief executive officer ... on key financial, human resource and clinical development objectives ...
(Date:12/17/2014)... Houston, TX (PRWEB) December 17, 2014 ... marketing and administration for Stoller Group. In this position, ... Stoller Group, on administrative matters, develop marketing strategy and ... and services. , “Achim has tremendous knowledge and ... president of Stoller Group. “His experience and innovative thinking ...
(Date:12/17/2014)... Xeno Diagnostics has again received an ... COLA inspection. Xeno has met all criteria for ... organization. Accreditation is earned only by laboratories that ... demonstrate continued accuracy in the performance of proficiency ... , While the Laboratory Excellence award ...
(Date:12/17/2014)... Md. , Dec. 17, 2014  United Therapeutics ... senior executive promotions as well as changes to ... Senior Executive Promotions United Therapeutics announced ... President and Co-Chief Executive Officer and David Zaccardelli ... Officer.  In connection with these promotions, Dr. Rothblatt,s title ...
Breaking Biology Technology:Relmada Therapeutics Announces Results of Annual Shareholders Meeting 2Achim Noack Joins Stoller Group as Global Vice President of Marketing and Administration 2Xeno Diagnostics Receives 3rd Award for Laboratory Excellence 2United Therapeutics Corporation Announces Executive Promotions and CEO Compensation Change 2United Therapeutics Corporation Announces Executive Promotions and CEO Compensation Change 3United Therapeutics Corporation Announces Executive Promotions and CEO Compensation Change 4
... Engineering Technology to Bring New Choices, More Options to Global ... ... and RESEARCH TRIANGLE PARK, N.C., Feb. 11,/PRNewswire- FirstCall/ -- DuPont (NYSE: ... to bring higher-yielding,agricultural products to the market faster. Terms of the ...
... 11 On February 8, Michael F. Brigham,President ... ) (http://www.immucell.com ),updated the investment community in ... in the interview include an overview of the,company, ... for,which investors should watch., To hear the ...
... to gently clean and help heal ... ... today,announced that it has launched the Qoustic Wound Therapy System(TM), which,advances ... a safe, cost-effective alternative to painful sharps,debridement and other surgical modalities. ...
Cached Biology Technology:DuPont and Precision BioSciences Collaborate to Accelerate Crop Product Development 2WallSt.net Updates Investment Community Through All-New Interview With ImmuCell 2Arobella Medical, LLC Launches Qoustic Wound Therapy System(TM) 2Arobella Medical, LLC Launches Qoustic Wound Therapy System(TM) 3
(Date:12/3/2014)... Dec. 2, 2014 As part of our ... Technologies is pleased to announce the release of a ... to collect the workforce data that they need. ... been left by existing readers. Many such devices have ... and modern technology. Older models force users to navigate ...
(Date:11/21/2014)... 2014   Atmel® Corporation (NASDAQ: ... touch technology solutions, today launched the industry,s first family ... widest V cc range from 1.7V to 5.5V. ... I 2 C bus communication speeds, and are available ... them ideal for consumer, industrial, computer, and medical applications. ...
(Date:11/15/2014)... 13, 2014  While we may still be a few ... in "Star Trek" to gain instant access to all that ... with smartphones and tablets for monitoring and measuring our health ... This may seem a tad Orwellian to some, but a ... of these technological opportunities into their healthcare regime. ...
Breaking Biology News(10 mins):Inception Technologies to Release New Biometric Reader 2Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 2Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 3Atmel Launches Industry's First Wide-V(cc) Low-Power Temperature Sensor Family 4Americans May Be Ready for a Brave New World of Healthcare 2Americans May Be Ready for a Brave New World of Healthcare 3Americans May Be Ready for a Brave New World of Healthcare 4
... Education for All) argues that the education of children ... and nutrition, which have reduced major diseases in poor ... Matthew Jukes, one of the books authors says: ... in schools, wed go a long way to enabling ...
... M2SYS Fingerprint Technology to ... Accurately Verify Check Casher Identity, ATLANTA, Sept. ... development firm, announced today its partnership,with TeraCorp Enterprises, a ... the M2SYS Bio-Plugin(TM) fingerprint,solution into TeraCash, a cutting-edge check ...
... the latest horticulture research on high tunnels, ... The American Society for Horticultural Science (ASHS) ... horticulture presentations from the 2007 ASHS Annual ... broad selection of horticulture presentations by world-class ...
Cached Biology News:Leading experts cite poor health and nutrition as major barrier to education in developing world 2M2SYS Technology Partners with TeraCorp Enterprises to Provide Added Security Within Check Cashing Solution 2HortTalks, a valuable scientific resource 2
... tool provides the firm pressure necessary ... in tubes or plates. The multifunctional ... that firmly holds thin-wall 0.5 ml ... opening or closing. A side slot ...
... USP is a highly nutritious versatile medium ... Due to the inclusion of both Tryptone ... growth of many fastidious organisms without the ... to United States Pharmacopeia standards for use ...
...
... B-Bridge's siSolutions RNAi Services offer ... for your siRNA studies. B-Bridges advanced ... and technical expertise ensure that you ... experiments. siSolutions siRNA Design Service utilizes ...
Biology Products: