Motif Bio and Hercules Capital Amend Loan and Security Agreement
MOTIF BIO PLC ADRS (MTFB)
US:NASDAQ Investor Relations:
ir.motifbio.com
Company Research
Source: GlobeNewswire
NEW YORK, Sept. 02, 2019 (GLOBE NEWSWIRE) -- Motif Bio plc (AIM/NASDAQ: MTFB) ("Motif Bio" or the "Company"), a clinical-stage biopharmaceutical company specialising in developing novel antibiotics, announces that its lender, Hercules Capital, Inc. (“Hercules”), has agreed to amend the Company’s loan and security agreement such that the next amortisation date is postponed from September 1 to October 1, 2019. This change means that the September payment will be interest only. Hercules made this change in support of Motif Bio managing its cash position to advance its pipeline expansion strategy and prepare for the upcoming meeting with the U.S. Food and Drug Administration. Dr. Graham Lumsden, Chief Executive Officer, said: “We are well prepared for the meeting with the FDA on September 19 to discuss our proposed clinical trial for iclaprim. In addition, we are actively pursuing options to broaden our pipeline as we work to build shareholder value. We appreciate the continued support
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