Purdue Pharma prepares for bankruptcy

Health Exec | September 04, 2019

Purdue Pharma, the maker of popular opioid OxyContin, is preparing to file for bankruptcy before the end of September if the company doesn’t reach a settlement over thousands of lawsuits against the company for its role in the opioid abuse epidemic, Reuters reported, citing people familiar with the matter. The news comes just after it was reported a settlement with Purdue Pharma was fetching between $10 billion and $12 billion. The settlement would close the thousands of lawsuits against the pharma company and also extradite the Sackler family as the owners. Purdue Pharma has become the face of blame for many of the thousands of opioid overdose deaths in the U.S., and OxyContin has handed the Sacklers billions in profits. The company and the Sacklers have denied accusations that their actions and marketing tactics helped fuel the U.S. opioid crisis. In 2018, 68,000 people died from opioid overdose.

Spotlight

Medsun Pharma is a Manufacturer of Pharmaceutical products. We are having world class and strong quality frameworks to guarantee that every one of the items fabricated is reliably protected and of good quality. Our point is to convey most elevated quality items at moderate costs. The organization has very much qualified and prepared the workforce in quality office to guarantee GMP consistency.

Spotlight

Medsun Pharma is a Manufacturer of Pharmaceutical products. We are having world class and strong quality frameworks to guarantee that every one of the items fabricated is reliably protected and of good quality. Our point is to convey most elevated quality items at moderate costs. The organization has very much qualified and prepared the workforce in quality office to guarantee GMP consistency.

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Xeris Biopharma Enters Into Agreement for $30 Million Private Placement

Xeris Biopharma Holdings | January 04, 2022

Xeris Biopharma Holdings, Inc. a biopharmaceutical company developing and commercializing unique therapies for patient populations in endocrinology, neurology, and gastroenterology, today announced that on January 2, 2022, it entered into a securities purchase agreement in connection with a private placement with an affiliate of Armistice Capital, LLC for aggregate gross proceeds of approximately $30.0 million. The Private Placement is expected to close on or around January 3, 2022. In accordance with the Purchase Agreement, the Company will issue to Armistice an aggregate of (i) 10,238,908 shares of the Company’s common stock, par value $0.0001 per share at a purchase price of $2.93 per Share, which was the closing price on December 31, 2021, resulting in aggregate gross proceeds of approximately $30.0 million, and (ii) warrants to purchase an aggregate of 5,119,454 shares of Common Stock at an exercise price of $3.223 per share, resulting in aggregate gross proceeds of approximately $16.5 million if fully exercised. The Warrants will become exercisable immediately upon the closing and have a term of five years from the earliest of the date (a) of effectiveness of the Resale Registration Statement, (b) all of the Shares and the Common Stock issuable upon exercise of the Warrants have been sold pursuant to Rule 144 or may be sold pursuant to Rule 144 without the requirement for the Company to be in compliance with the current public information required under Rule 144 and without volume or manner-of-sale restrictions, (c) following the one-year anniversary of the date of closing provided that the holder of Shares or Warrant Shares is not an affiliate of the Company, or (d) all of the Shares and Warrant Shares may be sold pursuant to an exemption from registration under Section 4(a)(1) of the Securities Act without volume or manner-of-sale restrictions. The Company expects to use the net proceeds from the Private Placement to support its operations, including for selling and marketing its three commercial products, clinical trials, working capital, and other general corporate purposes. The securities to be issued and sold in the Private placement will not, upon issuance, be registered under the Securities Act of 1933, as amended or any state securities laws, and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. The Company has agreed to file a registration statement with the Securities and Exchange Commission to register the resale of the Shares and the Warrant Shares described above. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Xeris Biopharma Xeris is a biopharmaceutical company developing and commercializing unique therapies for patient populations in endocrinology, neurology, and gastroenterology. Xeris has two commercially available products; Gvoke®, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, and Keveyis®, the first and only FDA-approved therapy for primary periodic paralysis. In addition, Recorlev® was recently approved by the U.S. Food and Drug Administration for the treatment of endogenous Cushing’s syndrome. Xeris also has a robust pipeline of development programs to extend the current marketed products into important new indications and uses and bring new products forward using its proprietary formulation technology platforms, XeriSol™ and XeriJect™, supporting long-term product development and commercial success.

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Fiercepharma | August 27, 2020

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Cannabis Industry Giant WayofLeaf.com Expands Health-Specific Content, Introduces Medical Review Team

Prnewswire | September 30, 2020

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