Key Developments For Hythiam Inc
Hythiam Inc (HYTM.O) (Consolidated Issue listed on NASDAQ Global Market)
Hythiam Inc. Announces First Peer-Reviewed Publication of Results From Randomized, Double-Blind, Placebo-Controlled Study
Hythiam Inc. announced the results of a double-blind, placebo-controlled study on the impact of the medical component of the PROMETA Treatment Program on alcohol dependent subjects was accepted and published in the Journal of Clinical Psychopharmacology, a scholarly publication in psychopharmacology that features articles reporting on clinical trials and studies. The study was conducted at the Medical University of South Carolina, and among the researchers findings were that key results demonstrated a statistically significant difference in use for subjects who exhibited pre-treatment withdrawal symptoms. The results are the first to be published in a peer-reviewed scientific journal from a double-blind, placebo controlled study conducted to assess the impact of the PROMETA Treatment Program on alcohol dependence.
Hythiam Inc. Announces Closing of $7 Million Registered Direct Offering
Hythiam Inc. announced that it has closed the previously announced registered direct placement of 9,333,334 shares of its common stock to institutional investors at a price per share of $.75 for gross proceeds of $7 million. Investors also received warrants to purchase 2,333,334 shares of the Company's common stock. The warrants have an exercise price of $.85 per share and are exercisable at any time after the closing of the transaction and before the 3rd anniversary of such initial issuance date. Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive placement agent for the transaction, and Brean Murray, Carret & Co served as financial advisors in the placement.
Hythiam Inc. Raises Approximately $7 Million In Registered Direct Offering
Hythiam Inc. announced that it has entered into definitive agreements to sell 9,333,334 shares of its common stock at a price per share of $.75 to institutional investors pursuant to a registered direct offering, representing gross proceeds of approximately $7 million. Investors will also receive warrants to purchase 2,333,334 shares of the Company`s common stock. The warrants have an exercise price of $.85 per share and are exercisable at any time after the closing of the transaction and before the 3rd anniversary of such initial issuance date. The closing of the offering is expected to take place on or before September 21, 2009. The Company plans to use the net proceeds from the offering for working capital and general corporate purposes.
Hythiam Inc. Enters into Agreement with Ford Motor Company for Catasys Integrated Substance Dependence Solution
Hythiam Inc. announced that it has entered into a three year agreement with Ford Motor Company to provide the Catasys integrated substance dependence solution to Ford`s hourly employees in Michigan enrolled in the National PPO and who meet certain criteria. . Operational implementation is expected to begin shortly, and the program is anticipated to launch in the fourth quarter of 2009.
Hythiam Inc. Files $20 Million Mixed Securities Shelf-DJ
Dow Jones reported that Hythiam Inc. filed with the Securities and Exchange Commission to sell $20 million in mixed securities from time-to-time. The mixed securities include common and preferred stock, debt securities, warrants and units. The Company said it will use net proceeds from the sale for capital expenditures, working capital needs and other general corporate purposes.
