Key Developments For Cardiome Pharma Corp.
Cardiome Pharma Corp. (CRME.O) (Consolidated Issue listed on NASDAQ Global Market)
CARDIOME PHARMA CORP And Astellas Pharma US, Inc. Announce Initiation Of Patient Enrolment In ACT 5 Trial
CARDIOME PHARMA CORP and its co-development partner Astellas Pharma US, Inc. (Astellas) announced that patient enrolment has begun for the ACT 5 trial, a confirmatory Phase 3 clinical trial of KYNAPID (vernakalant hydrochloride) Injection, a drug product candidate under development for the rapid conversion of atrial fibrillation to sinus rhythm. The ACT 5 trial, previously announced in August 2009, is expected to be completed in the first half of 2011. The ACT 5 trial, A Phase 3b Randomized, Double-Blind, Placebo Controlled, Parallel Group Study to Evaluate the Safety and Efficacy of Vernakalant Hydrochloride Injection in Patients with Recent Onset Symptomatic Atrial Fibrillation, will enroll approximately 450 patients across approximately 100 centres focused in North America. The study is designed to measure the safety and efficacy of KYNAPID Injection in patients with recent-onset atrial fibrillation (more than three hours but less than seven days). The study excludes patients with evidence or history of congestive heart failure (CHF). Further, the study will evaluate the influence of CYP2D6 genotype status on the pharmacokinetics and pharmacodynamics of vernakalant (and its metabolites), and also allows for an exploratory analysis of safety and healthcare resource utilization between vernakalant and electrocardioversion (ECV).
CARDIOME PHARMA CORP Announces Preliminary Results Of Tender Offer
CARDIOME PHARMA CORP announced the preliminary results of its modified Dutch Auction tender offer to purchase for cancellation up to $27.5 million of its common shares (Offer), which expired at 5:00 p.m. (Eastern time) on October 13, 2009. More than $27.5 million of Cardiome's common shares were validly tendered to the Offer. Based on the preliminary report of the depository for the Offer, Cardiome expects to purchase for cancellation 6,470,588 of its common shares at a price of $4.25 per share (Purchase Price), for an aggregate purchase price of $27.5 million. The purchased shares represent approximately 9.7% of the outstanding common shares of the Company as of October 13, 2009.
CARDIOME PHARMA CORP Announces New Expiration Date For Tender Offer
CARDIOME PHARMA CORP announced that it will extend the term of its modified Dutch Auction tender offer (the Offer) for up to USD27.5 million of its common shares commenced on September 1, 2009. The Offer, which was initially schedule to expire at 5:00 p.m. (Eastern time) on October 6, 2009, has been extended until 5:00 p.m. (Eastern time) on October 13, 2009, unless further extended or withdrawn by the Company.
CARDIOME PHARMA CORP Announces Commencement of USD27.5 Million Tender Offer
CARDIOME PHARMA CORP announced that it has mailed an offer to purchase and issuer bid circular (the Offer to Purchase and Circular) to its shareholders in connection with its previously announced tender offer to purchase for cancellation up to 6,470,588 of its common shares for an aggregate purchase price of up to USD27.5 million. The Offer to Purchase and Circular is being filed with the securities regulatory authorities in the United States and Canada. The tender offer will be conducted as a modified Dutch auction, which will enable shareholders to select a price between USD4.25 per share and USD5.10 per share at which they are willing to tender their common shares to the offer. The purchase price will be the lowest price per share between USD4.25 and USD5.10 that enables Cardiome to purchase USD27.5 million of common shares. The offer to purchase shares will expire on October 6, 2009 at 5:00 p.m. (Eastern Time), unless withdrawn or extended.
CARDIOME PHARMA CORP Announces Tender Offer To Purchase Up To $27.5 Million Of Its Common Shares
CARDIOME PHARMA CORP announced that its Board of Directors has authorized management to proceed with a tender offer to purchase for cancellation up to 6,470,588 of its common shares for an aggregate purchase price of up to $27.5 million. The offer will be conducted as a modified 'Dutch auction', which will enable shareholders to select a price between $4.25 per share and $5.10 per share at which they are willing to tender their common shares to the offer. The purchase price will be the lowest price per share between $4.25 and $5.10 that enables Cardiome to purchase $27.5 million of common shares. All common shares purchased under the offer will be purchased at the same price.
