Neotherapuetics possibly has a breakthrough drug - NEOT Message Board

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Biotech / Medical : Neotherapuetics possibly has a breakthrough drug - NEOT

NEOT 1.919

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Jan 17 4:00 PM EST

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To: tuck who wrote (183)	4/17/2002 8:11:43 PM
From: mopgcw	Read Replies (1) of 204

NeoTherapeutics Investors Right Of First Refusal Expires DOW JONES NEWSWIRES IRVINE, Calif. -- NeoTherapeutics Inc. (NEOT) said a right of first refusal that was granted to two institutional investors as part of a financing agreement in April 2001 has expired. In a filing with the Securities and Exchange Commission April 17, 2001, NeoTherapeutics said the two investors were Montrose Investments and Strong River Investments. In a press release Wednesday, NeoTherapeutics said it is no longer required to offer these investors the right to take financings negotiated with other parties. The drug discovery company anticipates the expiration will help it form straight common-equity financings with "long-term oriented, fundamental investors." "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," said NeoTherapeutics. Shares of NeoTherapeutics traded recently at $2.51, up 15 cents, or 6.4%, on Nasdaq volume of 120,600 shares. Average daily volume is 142,572 shares. Company Web site: neot.com

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