The Hygiology Post ® is presenting information about a company that seems to have much potential to help many people. The years 2012, 2013, and 2014 do appear to likely be pivotal years in determining how helpful the patented technologies may actually be for people. Senesco Technologies has continued to update information on its web site. As a matter of disclosure : The author continues to be a current shareholder in the company.
A recent article on the Senesco Technologies web site (https://www.senesco.com/newsitem.php?id=291; obtained on 12-21-13) began the following way:
Senesco Announces up to $25.2 Million Equity Financing
BRIDGEWATER, N.J. (December 12, 2013) – Senesco Technologies, Inc. (‘Senesco’ or the ‘Company’) (OTCQB: SNTI) announced today that it has entered into a securities purchase agreement with certain investors to raise up to $25.2 million in gross proceeds. The offering is expected to close on or about December 12, 2013, subject to customary closing conditions. The initial net offering proceeds to the Company from the sale of units consisting of shares of common stock and warrants, after deducting the estimated offering expenses payable by the Company of approximately $150,000, are expected to be approximately $5,250,000. The net proceeds of the offering will be used for working capital, research and development and general corporate purposes.
‘We are very pleased to have enhanced our financial resources,’ said Leslie J. Browne, Ph.D., President and CEO of Senesco. ‘The structure of this offering not only provides us with immediate gross proceeds of $5.4 million, but it also allows us the possibility to receive up to an additional $12.6 million in the next six months from the exercise of warrants and an additional $7.2 million within the next three years from the exercise of warrants. This immediate infusion of funds will provide us with the necessary resources to complete the ongoing study and plan for the next phase of our cancer therapy (SNS01-T) clinical development. I believe the possible exercise of the warrants in the next six months will give us the necessary resources to further expand our development potential.’ ”
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Louis DeCola, Jr. © 2013 The Hygiology Post ®