NeoTherapeutics Announces Expiration of Right Of First Refusal' Held by Institutional Investors

antiquity · 04-17-2002, 09:21 PM

NeoTherapeutics Announces Expiration of Right Of First Refusal' Held by Institutional Investors

IRVINE, Calif., April 17 /PRNewswire-FirstCall/ -- NeoTherapeutics, Inc. (Nasdaq:NEOT) announced the expiration of the right of first refusal granted to two institutional investors as part of a financing agreement in April of 2001. As a result, NeoTherapeutics is no longer required to offer these investors the right to take financings negotiated with other parties.

"We have made a great deal of progress over the last year in cleaning up our balance sheet and improving the quality of investors to whom we have issued equity," stated Alvin J. Glasky, Ph.D., Chairman and Chief Scientific Officer of NeoTherapeutics. "The expiration of the right of first refusal should further enhance our ability to enter into straight common-equity financings with long-term oriented, fundamental investors."

NeoTherapeutics seeks to create value for stockholders through the discovery and development of central nervous system (CNS) drugs, in-licensing and commercialization of anti-cancer drugs, and the licensing out of new drug targets discovered through genomics research. The Company has two drugs addressing major medical needs in pivotal/phase 3 stage of development: Neotrofin(TM) for Alzheimer's disease and satraplatin for prostate cancer. Additional neurology and anti-cancer drugs such are in phase 1 and 2 human clinical trials and the Company has a rich pipeline of pre-clinical drug candidates. For additional information visit the Company's web site at www.neot.com.
This press release may contain forward-looking statements regarding future events and the future performance of NeoTherapeutics that involve risks and uncertainties that could cause actual results to differ materially. These risks are described in further detail in the Company's reports filed with the Securities and Exchange Commission.

Contacts:

MEDIA RELATIONS

Jon Siegal

Ronald Trahan Associates (RTA) Inc.

(508) 647-9782, ext. 15

INVESTOR RELATIONS

John McManus

NeoTherapeutics, Inc.

(949) 788-6700, ext. 247

04-17-2002, 09:21 PM	#1
antiquity Moderator Join Date: Jul 2001 Posts: 14,540	NeoTherapeutics Announces Expiration of Right Of First Refusal' Held by Institutional Investors NeoTherapeutics Announces Expiration of Right Of First Refusal' Held by Institutional Investors IRVINE, Calif., April 17 /PRNewswire-FirstCall/ -- NeoTherapeutics, Inc. (Nasdaq:NEOT) announced the expiration of the right of first refusal granted to two institutional investors as part of a financing agreement in April of 2001. As a result, NeoTherapeutics is no longer required to offer these investors the right to take financings negotiated with other parties. "We have made a great deal of progress over the last year in cleaning up our balance sheet and improving the quality of investors to whom we have issued equity," stated Alvin J. Glasky, Ph.D., Chairman and Chief Scientific Officer of NeoTherapeutics. "The expiration of the right of first refusal should further enhance our ability to enter into straight common-equity financings with long-term oriented, fundamental investors." NeoTherapeutics seeks to create value for stockholders through the discovery and development of central nervous system (CNS) drugs, in-licensing and commercialization of anti-cancer drugs, and the licensing out of new drug targets discovered through genomics research. The Company has two drugs addressing major medical needs in pivotal/phase 3 stage of development: Neotrofin(TM) for Alzheimer's disease and satraplatin for prostate cancer. Additional neurology and anti-cancer drugs such are in phase 1 and 2 human clinical trials and the Company has a rich pipeline of pre-clinical drug candidates. For additional information visit the Company's web site at www.neot.com. This press release may contain forward-looking statements regarding future events and the future performance of NeoTherapeutics that involve risks and uncertainties that could cause actual results to differ materially. These risks are described in further detail in the Company's reports filed with the Securities and Exchange Commission. Contacts: MEDIA RELATIONS Jon Siegal Ronald Trahan Associates (RTA) Inc. (508) 647-9782, ext. 15 INVESTOR RELATIONS John McManus NeoTherapeutics, Inc. (949) 788-6700, ext. 247

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