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FOR IMMEDIATE RELEASE
January 31, 2000
PHARMANETICS TO SEEK ADDITIONAL CAPITAL
RALEIGH, N.C. (January 31, 2000) -- PharmaNetics, Inc. (NASDAQ NM: PHAR), announced today that the Company plans to seek additional capital to support and fund its efforts to pursue a number of collaborative opportunities being made available to the Company by international pharmaceutical companies. The Company expects to raise equity capital in a private placement. The securities offered will not be registered under the federal securities laws and may not be offered or sold in the United States without registration or an exemption from registration.
PharmaNetics, Inc. develops, manufactures and markets rapid turnaround diagnostics to assess blood clot formation and dissolution. The Company develops tests based on its proprietary, dry chemistry Thrombolytic Assessment System for its principal target market of managing powerful new drug compounds, some of which may have narrow therapeutic ranges, as well as for monitoring routine anticoagulants. The Company’s therapeutic diagnostics are used to monitor the effect of antithrombotic agents in the treatment of angina, myocardial infarction (heart attack), stroke, deep venous thrombosis, and pulmonary and arterial emboli.
This press release contains forward-looking statements regarding future events and the future performance of PharmaNetics that involve risks and uncertainties, such as risks related to market acceptance, clinical trials and dependence on third-party distributors and collaborative partners that could cause actual results to differ materially from those projected in the forward-looking statements. Information concerning these and other of the factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company’s SEC filings, including Form 10-K, Form 10-Q and Form 8-K reports.
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