Recro Pharma Amends Athyrium Credit Facility
Recro Pharma, Inc. (REPH)
Last recro pharma, inc. earnings: 11/8 07:00 am
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Source: GlobeNewswire
New Terms Provide for Continued Access to $40 Million in Debt Funding $10 Million of the $40 Million Funded at Closing MALVERN, Pa., Jan. 02, 2019 (GLOBE NEWSWIRE) -- Recro Pharma, Inc. (NASDAQ:REPH), a revenue generating specialty pharmaceutical company focused on therapeutics for hospitals and other acute care settings, today announced an amendment to its existing credit facility with Athyrium Capital Management, LP (Athyrium), a leading healthcare-focused investment firm. A New Drug Application (NDA) for Recro Pharma’s lead candidate, intravenous (IV) meloxicam, is currently under review by the U.S. Food and Drug Administration (FDA), and the Company is awaiting its assigned PDUFA goal date of March 24, 2019. “This amended credit facility reinstates access to $40 million in debt funding, providing Recro Pharma with greater financial flexibility, and importantly, provides near-term capital to pay certain of the milestone payments due to Alkermes under our recently amended
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