FCSC - Fibrocell Science

EXTON, Pa.--(BUSINESS WIRE)--Fibrocell Science, Inc. (OTCBB: FCSC) announced today that the Company has entered into a definitive Securities Purchase Agreement with certain accredited investors, pursuant to which the Company agreed to sell to the purchasers an aggregate of 41,245,822 shares of Company common stock at a purchase price of $0.55 per share in a private placement. Each purchaser will also receive a warrant to purchase 0.35 shares of common stock for every share of common stock acquired in the offering with an exercise price of $0.75 per share and a term of 5 years from issuance. The warrants are callable by the Company if the common stock trades over $1.75 for 20 consecutive trading days at any time after the shares underlying the warrants are registered or eligible for resale pursuant to Rule 144. The aggregate purchase price to be paid by the purchasers at closing for the common stock and the warrants will be $22.7 million. The closing is expected to occur on or about August 10, 2011, subject to customary closing conditions.

Pursuant to a Registration Rights Agreement between the Company and the purchasers, the Company is required to file a resale registration statement within 30 days that covers the resale of the shares of common stock and the shares of common stock issuable upon the exercise of the warrants.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities. None of the shares to be issued to the investors nor the shares underlying the warrants to be issued to the investors will be or have been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc., (Nasdaq: RODM), and Gleacher & Company Securities, Inc., a subsidiary of Gleacher & Company, Inc. (Nasdaq: GLCH), acted as joint lead placement agents for the offering. John Carris Investments, LLC acted as co-placement agent for the offering.
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Wednesday, 22 Jun 2011 09:15am EDT

Fibrocell Science, Inc. announced that the U.S. Food and Drug Administration (FDA) approved the Company’s Biologics License Application for its product, laV?v (azficel-T). laV?v is the first and only personalized aesthetic cell therapy approved by the FDA for the improvement of the appearance of moderate to severe nasolabial fold wrinkles (smile lines) in adults. In clinical trials, laV?v was well tolerated with the majority of adverse events being injection-site reactions that were of mild to moderate intensity and resolved within one week. The FDA approval was based in part on the combined results of two identical Phase III multi-center, randomized, double-blind, placebo-controlled studies of 421 patients. Treatment was administered in three sessions approximately five weeks apart. Using stringent co-primary endpoints based on the investigators’ and patients’ assessments, a significantly greater proportion of patients demonstrated a positive response to treatment with laV?v than with placebo. Based on these trials, laV?v effectively improved the appearance of nasolabial fold wrinkles for the six months of patient follow-up after the third and final treatment. How long the effect may last beyond six months is a topic of further study. In clinical trials, the most common adverse reactions were injection-site redness, bruising, swelling, pain, hemorrhage, edema, nodules, papules, irritation, dermatitis, and pruritus.

Investors have still been speculating that FCSC may be acquired. Given the company just completed $22M+ in financing, I do not foresee that happening in the near future.

The company needed money to ramp up production of laViv and begin marketing efforts. Since the company just received money via the financing, I suspect this is presently what is happening behind the scenes.

Apart from being acquired or forming a major partnership, the only way in which I see the share price rising significantly would be to provide some sort of guidance that the demand for laViv is above what they expected, which would ultimately equate to large profits. This is the most likely scenario in my opinion and the main reason I have invested as I foresee a huge demand (though it may take a number of months at least). I would not expect to hear any guidance until late this year at best once production is up and running and laViv has been on the market for at least a few months.

Until that time, I would expect the stock to trade in the current range (.45-.60) with some spikes and some dips depending on traders moving in and out.

In my opinion (and I believe many feel this way), the management bungled the way it handled post-approval and the share price should be trading in a range higher than it is now. Hopefully we receive more updates than we have to date on the progress of production and marketing efforts.

hi... Which stock are you talking about... I could not understand, I would appreciate if someone out here would help me out in knowing more about the thread... Thank you

Quote:
Originally Posted by Biliyera View Post
hi... Which stock are you talking about... I could not understand, I would appreciate if someone out here would help me out in knowing more about the thread... Thank you
FCSC is the symbol.

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