SOUTH SAN FRANCISCO, Calif., Oct 8, 2009 (GlobeNewswire via COMTEX News Network) -- Hana Biosciences (OTCBB:HNAB) announced today that it has completed its previously disclosed private placement of units of its securities consisting of shares of common stock and warrants. Hana realized total gross cash proceeds of approximately $12.4 million.
Net proceeds of the offering will be used to support completion of Hana's pivotal Phase 2 clinical trial (rALLy) of Marqibo in adult patients with Philadelphia chromosome negative acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma in second relapse or who failed two prior lines of treatment. The proceeds will also support Hana's planned regulatory activities related to Marqibo including New Drug Application preparation and submission.
About Hana Biosciences, Inc.
Hana Biosciences, Inc. is a biopharmaceutical company dedicated to developing and commercializing new, differentiated cancer therapies designed to improve and enable current standards of care. The company's lead product candidate, Marqibo(R), potentially treats acute lymphoblastic leukemia and lymphomas. The Company has additional pipeline opportunities some of which, like Marqibo, improve delivery and enhance the therapeutic benefits of well characterized, proven chemotherapies and enable high potency dosing without increased toxicity. Additional information on Hana Biosciences can be found at www.hanabiosciences.com.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These forward-looking statements include without limitation, statements regarding the use of proceeds from the financing, as well as the timing, progress and anticipated results of the clinical development, regulatory processes, potential clinical trial initiations, potential IND and NDA filings and commercialization efforts of Hana's product candidates; and statements regarding the expected benefits Marqibo may have for patients with relapsed ALL compared to existing therapies. Such statements involve risks and uncertainties that could cause Hana's actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Among other things, there can be no assurances that any of Hana's development efforts relating to its other product candidates will be successful, that Hana will be able to obtain regulatory approval of any of its product candidates, and that the results of clinical trials will support Hana's claims or beliefs concerning the effectiveness of its product candidates. Additional risks that may affect such forward-looking statements include Hana's need to raise additional capital to fund its product development programs to completion, Hana's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in the company's Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission. Hana assumes no obligation to update these statements, except as required by law.
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SOURCE: Hana Biosciences, Inc.
CONTACT: Hana Biosciences, Inc. Investor & Media Contacts: (650) 588-6641 firstname.lastname@example.org Burns McClellan Investors Rebecca Birbach (212) 213-0006 email@example.com
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