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December 30, 2013
18:03 EDTACURAcura Pharma secures $10M of debt financing
Acura Pharmaceuticals entered into a Loan and Security Agreement with Oxford Finance, pursuant to which Oxford agreed to make a term loan to the company in the principal amount of $10M. The loan has a fixed interest rate of 8.35% per annum with interest only payment for the first 15 months and repayment of all principal and interest by December 1, 2018. In addition, at maturity or earlier termination, the company must pay Oxford an additional one-time interest payment of $795,000. As security for its obligations under the Loan Agreement, the company granted Oxford a security interest in substantially all of its existing and after-acquired assets, exclusive of its intellectual property assets.The company may use the proceeds of the Loan Agreement for general working capital and to fund its business requirements. Acura's President and CEO, Bob Jones said, "We are pleased to secure this financing on favorable terms which gives us more flexibility to advance multiple development candidates concurrently and expand our Nexafed franchise."
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April 11, 2014
07:19 EDTACURAcura Pharma to host conference call
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April 10, 2014
06:17 EDTACURAcura Pharma announces return of product rights from Pfizer
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