Biopure Exploring Strategic Options
18 2월 2009 - 4:59AM
PR Newswire (US)
Earnings for year ended October 31, 2008, contained in Annual
Report filed on February 13, 2009, with Going Concern Modification
CAMBRIDGE, Mass., Feb. 17 /PRNewswire-FirstCall/ -- Biopure
Corporation (NASDAQ:BPUR) announced today that it is exploring
strategic options for financing or alternative transactions. The
company has engaged Newbury Piret & Co. to advise on options,
including evaluation of nonbinding proposals that have been
received. There should be no assumption that this process will
result in any transaction or any particular type of transaction. On
February 13, 2009, the company filed with the SEC its Annual Report
on Form 10-K, which contains the company's financial statements for
the two years ended October 31, 2008. The company does not intend
to issue a separate earnings release. The report of the company's
independent registered public accounting firm contained in this
filing is modified with respect to the company's ability to
continue as a going concern. Biopure Corporation Biopure
Corporation develops pharmaceuticals, called oxygen therapeutics,
that are intravenously administered to deliver oxygen to the body's
tissues. Hemopure(R) [hemoglobin glutamer - 250 (bovine)], or
HBOC-201, is approved for sale in South Africa for the treatment of
surgical patients who are acutely anemic. On November 21, 2008, the
company announced that it had terminated most of its work force for
financial reasons. Using its limited resources, the company is
supporting the U.S. Navy's government-funded efforts to develop a
potential out-of-hospital trauma indication. Biopure's veterinary
product Oxyglobin(R) [hemoglobin glutamer - 200 (bovine)], or
HBOC-301, the only oxygen therapeutic approved for marketing by
both the U.S. Food and Drug Administration and the European
Commission, is indicated for the treatment of anemia in dogs.
Biopure has sold approximately 214,000 units of Oxyglobin since its
launch. Statements in this release that are not strictly historical
are forward-looking statements, including any statements implying
that any transaction will be entered into to prevent the company
from ceasing operations. Actual results may differ materially from
those in these forward-looking statements due to risks and
uncertainties. These risks include, without limitation,
uncertainties regarding the company's financial position,
unexpected costs and expenses, the assessment of third parties of
the Company's products and prospects, the Company's ability to
negotiate a transaction with acceptable terms, and the other
factors identified under the heading "Risk Factors" in the
Company's annual report on Form 10-K filed on February 13, 2009,
which can be accessed in the EDGAR database at the U.S. Securities
and Exchange Commission's (SEC) website, http://www.sec.gov/. The
company undertakes no obligation to release publicly the results of
any revisions to these forward-looking statements to reflect events
or circumstances arising after the date hereof. The company, for
example, currently does not intend to provide updates regarding its
exploration of strategic alternatives or to disclose developments
or potential outcomes until and unless a definitive course of
action is reached. A full discussion of the company's operations
and financial condition can be found in the company's filings with
the SEC. Contact: Rob Skiba Biopure Corporation (617) 234-6500
DATASOURCE: Biopure Corporation CONTACT: Rob Skiba of Biopure
Corporation, +1-617-234-6500,
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