Navigation Links
Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
Date:8/19/2007

NEW HAVEN, Conn., Aug. 15 /PRNewswire-FirstCall/ -- VION PHARMACEUTICALS, INC. (Nasdaq: VION) today announced that the Company had paid interest due August 15, 2007 on its 7.75% Convertible Senior Notes due 2012 (the "Notes"). The aggregate principal amount of the Notes is $60 million.

The Company paid $2,260,416.67 in interest through the issuance of shares of its registered Common Stock. Approximately $2,259,888 was paid in 2,539,200 shares of Common Stock, based on today's closing bid price of $0.89, which is approximately equal to 42.32 of shares of Common Stock per each $1,000 principal amount of Notes. Cash interest was paid in lieu of fractional shares.

Vion Pharmaceuticals, Inc. is committed to extending the lives and improving the quality of life of cancer patients worldwide by developing and commercializing innovative cancer therapeutics. Vion has two agents in clinical trials. Cloretazine(R) (VNP40101M), a unique alkylating agent, is being evaluated in a Phase II pivotal trial as a single agent in elderly patients with previously untreated de novo poor-risk acute myelogenous leukemia. A Phase II trial of Cloretazine(R) (VNP40101M) in small cell lung cancer is also being conducted. Triapine(R), a potent inhibitor of a key step in DNA synthesis, is being evaluated in clinical trials sponsored by the National Cancer Institute. In preclinical studies, Vion is also evaluating VNP40541, a hypoxia-selective compound, and hydrazone compounds. The Company also is seeking development partners for TAPET(R), its modified Salmonella vector used to deliver anticancer agents directly to tumors. For additional information on Vion and its product development programs, visit the Company's Internet web site at http://www.vionpharm.com.

This news release contains forward-looking statements. Such statements are subject to certain risk factors which may cause Vion's plans to differ or results to vary from those expected, including Vion's potential inability to obtain regulatory approval for its products, delayed or unfavorable results of drug trials, the possibility that favorable results of earlier preclinical studies or clinical trials are not predictive of safety and efficacy results in later clinical trials, the need for additional research and testing, the potential inability to secure external sources of funding to continue operations, the inability to access capital and funding on favorable terms, continued operating losses and the inability to continue operations as a result, and a variety of other risks set forth from time to time in Vion's filings with the Securities and Exchange Commission, including but not limited to the risks attendant to the forward-looking statements included under Item 1A, "Risk Factors" in Vion's Annual Report on Form 10-K for the year ended December 31, 2006 and the Company's Form 10-Q for the quarter ended June 30, 2007. In particular, there can be no assurance as to the results of any of the Company's clinical trials, that any of these trials will continue to full accrual, or that any of these trials will not be discontinued, modified, delayed or ceased altogether. Except in special circumstances in which a duty to update arises under law when prior disclosure becomes materially misleading in light of subsequent events, Vion does not intend to update any of these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

COMPANY CONTACT: Vion Pharmaceuticals, Inc.

Alan Kessman, Chief Executive Officer

Howard B. Johnson, President & CFO

(203) 498-4210


'/>"/>
SOURCE Vion Pharmaceuticals, Inc.

Copyright©2007 PR Newswire.

Related biology technology :

1. Deltanoid Pharmaceuticals begins phase II osteoporosis study
2. The Coming of Biotech Generic Pharmaceuticals
3. Anthropology professors blog raises public interest
4. Interest drives investment of instructional technology
5. High interest forces delay in food safety symposium
6. A Vote Against Free Trade is a Vote Against Wisconsins Long-Term Interests
7. SecurePipe appoints two senior execs
8. Third Wave announces two senior management appointments
9. Senior Wisconsin stem-cell researcher leaves for Connecticut
10. Sonic Foundry names new senior vice president
11. Eppendorf Electroporation Application Notes Your participation is highly welcome !!!
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... 26, 2016 , ... After several promising treatments in Panama ... City of Knowledge in Panama, a 6 year-old Duchenne’s muscular dystrophy patient received ... year following FDA approval of a second application for a single patient, investigational ...
(Date:5/25/2016)... Portland, Oregon (PRWEB) , ... May 25, 2016 ... ... Base Set features a variety of fracture-specific plating options designed to address fractures ... provide industry-leading fracture fixation solutions. , The Acumed Ankle Plating System 3 is ...
(Date:5/25/2016)... ... May 25, 2016 , ... Lady had been battling arthritis since ... ligament in her left knee. Lady’s owner Hannah sought the help of Dr Jeff ... surgeon, to repair her cruciate ligament and help with the pain of Lady’s arthritis. ...
(Date:5/24/2016)... ... May 24, 2016 , ... ... identity. The new Media Cybernetics corporate branding reflects a results-driven revitalization for a ... image analysis. The re-branding components include a crisp, refreshed logo and a new ...
Breaking Biology Technology:
(Date:4/26/2016)... , April 27, 2016 ... the  "Global Multi-modal Biometrics Market 2016-2020"  report to ... ) , The analysts forecast the ... CAGR of 15.49% during the period 2016-2020.  ... number of sectors such as the healthcare, BFSI, ...
(Date:4/14/2016)... 14, 2016 BioCatch ™, ... today announced the appointment of Eyal Goldwerger ... Goldwerger,s leadership appointment comes at a time ... the deployment of its platform at several of the ... which discerns unique cognitive and physiological factors, is a ...
(Date:3/29/2016)... 29, 2016 LegacyXChange, Inc. (OTC: ... and SelectaDNA/CSI Protect are pleased to announce our successful ... a variety of writing instruments, ensuring athletes signatures against ... collectibles from athletes on LegacyXChange will be assured of ... DNA. Bill Bollander , CEO states, ...
Breaking Biology News(10 mins):