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News Breaks
February 13, 2013
16:13 EDTDSCODiscovery Labs receives $30M investment from Deerfield
Deerfield Management announced that it has entered into a secured loan facility with Discovery Laboratories for up to $30M in financing. The financing provides Discovery with capital to commercialize its drug Surfaxin, which has been approved by the FDA for the prevention of Respiratory Distress Syndrome, or RDS, in premature infants at high risk for RDS, and its Afectair airway connector for infants receiving aerosolized medication in neonatal or pediatric intensive care units. The launch of these products will enable Discovery to transition from a development- to a commercial-stage company, and further develop its lead pipeline product, Aerosurf. The financing was structured to provide funding over time as needed and to avoid the dilution and potential discount of a public offering of stock or convertible debt financing. Under terms of the facility, Deerfield committed to advance $30M this year
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July 1, 2015
07:37 EDTDSCODiscovery Labs notified by NASDAQ of minimum bid price requirement noncompliance
Discovery Laboratories received a letter from The Nasdaq Stock Market indicating that, because the company's common stock has not maintained a minimum closing bid price of $1.00 per share over the previous 30 consecutive business days, the company is no longer in compliance with Nasdaq's Minimum Bid Price Requirement Listing Rule. The company has until December 28 to regain compliance with the Requirement. If during the grace period, the company's common stock achieves a minimum closing bid price of at least $1.00 per share for a period of at least ten consecutive business days, the company will regain compliance with the Minimum Bid Price Requirement and its common stock will continue to be eligible for listing on the Nasdaq Capital Market. The company may be eligible for an additional grace period through June 27, 2016.

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