NovaDel Holds Annual Meeting
16 10월 2009 - 10:16PM
Business Wire
NovaDel Pharma Inc. (NYSE AMEX: NVD) held its 2009 Annual
Meeting of Stockholders on October 15, 2009. Mr. Mark Baric, Mr.
Thomas Bonney, Mr. Steven Ratoff and Dr. Charles Nemeroff were
elected directors of the Company. In addition, J.H. Cohn LLP was
approved as the Company’s auditors for 2009. Mr. Ratoff, Chairman
of the Board, Interim Chief Executive Officer and Interim Chief
Financial Officer, reviewed the progress of the Company. Mr. Ratoff
noted that NovaDel is actively engaged in licensing its two
approved drugs, NitroMist™ and ZolpiMist™, and the Company’s goal
is that licenses will be in place by the end of this 2009 fiscal
year. Mr. Ratoff indicated that if that objective is achieved,
these products could be launched by the licensee as early as the
third quarter of 2010.
Mr. Ratoff also reviewed the current pipeline of the Company,
noting that progress on the development of these opportunities is
limited by the current lack of financial resources. Finally, Mr.
Ratoff noted that while the Company’s financial condition has
improved as a result of the financing agreement with Seaside, LLC,
substantive company progress requires additional financial
resources. The Company recommends stockholders to review the
liquidity section of the Company’s Quarterly Report on Form 10-Q
for the second quarter of 2009. NovaDel’s updated corporate
presentation is available on our website at www.novadel.com.
ABOUT NOVADEL PHARMA
NovaDel Pharma Inc. is a specialty pharmaceutical company
developing oral spray formulations for a broad range of marketed
drugs. The Company’s proprietary technology offers, in comparison
to conventional oral dosage forms, the potential for faster
absorption of drugs into the bloodstream leading to quicker onset
of therapeutic effects and possibly reduced first pass liver
metabolism, which may result in lower doses. Oral sprays eliminate
the requirement for water or the need to swallow, potentially
improving patient convenience and adherence.
NovaDel’s oral spray technology is focused on addressing unmet
medical needs for a broad array of existing and future
pharmaceutical products. The Company’s most advanced oral spray
candidates target angina, nausea, insomnia, migraine headaches and
disorders of the central nervous system. NovaDel plans to develop
these and other products independently and through collaborative
arrangements with pharmaceutical and biotechnology companies. To
find out more about NovaDel Pharma Inc. (NYSE AMEX: NVD), visit our
website at www.novadel.com.
FORWARD-LOOKING STATEMENTS:
Except for historical information contained herein, this
document may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements involve known and unknown risks and uncertainties that
may cause the Company’s actual results or outcomes to be materially
different from those anticipated and discussed herein including,
but not limited to, the ability of the Company to raise sufficient
capital, the ability of the Company to successfully license its two
approved products, the successful completion of its pilot
pharmacokinetic feasibility studies, the ability to develop
products (independently and through collaborative arrangements),
the ability to commercialize and obtain FDA and other regulatory
approvals for products under development and the acceptance in the
marketplace for oral spray products. The filing of an NDA with the
FDA is an important step in the approval process in the United
States. Acceptance for filing by the FDA does not mean that the NDA
has been or will be approved, nor does it represent an evaluation
of the adequacy of the data submitted. Further, the Company
operates in industries where securities may be volatile and may be
influenced by regulatory and other factors beyond the Company’s
control. In addition, our inability to maintain or enter into, and
the risks resulting from our dependence upon, collaboration or
contractual arrangements necessary for the development,
manufacture, commercialization, marketing, sales and distribution
of any of our products could materially impact the Company's actual
results. Important factors that the Company believes might cause
such differences are discussed in the risk factors detailed in the
Company’s most recent Annual Report on Form 10-K and Registration
Statements, filed with the Securities and Exchange
Commission. In assessing forward-looking statements contained
herein, if any, the reader is urged to carefully read all
cautionary statements contained in such filings.
For more detailed information regarding NovaDel’s 2009 financial
results and its product pipeline, please review the Company’s SEC
filings on Form 10-Q at the Investor Relations section of
www.novadel.com.
Novadel (AMEX:NVD)
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