UPPSALA, Sweden--()--Regulatory News:
In accordance with the current regulations, Orexo (STO:ORX) is halting the repurchasing of company shares 30 days before the interim report for January-September 2012.
Orexo commenced following the EGM approval, a buyback of company shares on July 16, 2012. Orexo has repurchased 1,071,154 shares at an average price of SEK 47.15 for a total value of MSEK 50.5 as of September 20, 2012.
The share repurchasing program will according to the regulations governing the Swedish stock market be halted as of September 25, 2012, since the company is entering a 30-day black-out period prior to release of the Q3 report. The report will be published on October 25, 2012.
A maximum of 10 percent of the shares outstanding may be repurchased up until the Annual General Meeting in 2013, i.e. no more than 2,989,999 shares.
The repurchasing of company shares may be resumed no earlier than October 26, 2012, in which case this will be announced in a press release.
Orexo AB is an emerging specialty pharma company developing improved treatments using proprietary drug delivery technology. Orexo’s expertise is within the area of reformulation technologies and especially sublingual formulations. The company has a portfolio of revenue-generating EU and US approved products currently marketed under licence and a pipeline of several reformulations of approved compounds for areas of unmet medical need. Orexo also has collaboration projects with several international pharma companies. Orexo’s head office is in Uppsala and the company is listed on NASDAQ-OMX. The largest shareholders are Novo A/S and HealthCap.
For more information about Orexo please visit www.orexo.com
Orexo is required under the Financial Instruments Trading Act to make the information in this press release public. The information was submitted for publication at 08:00am CET on September 21, 2012.
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