CONSHOHOCKEN, PA--(Marketwire - 06/14/11) - NuPathe Inc. (NASDAQ:PATH - News), a specialty pharmaceutical company focused on the development and commercialization of branded therapeutics for diseases of the central nervous system, including neurological and psychiatric disorders, today announced it has received an additional $10 million term loan under its secured credit facility."By drawing down this cash from our credit facility, we are able to further strengthen our balance sheet at an attractive cost of capital," said Jane H. Hollingsworth, chief executive officer of NuPathe. "This will provide us with additional financial flexibility as we continue to prepare for the launch of Zelrix, our patch for the treatment of migraine, expected in the first half of 2012."About NuPathe
NuPathe Inc. (www.nupathe.com) is a specialty pharmaceutical company focused on the development and commercialization of branded therapeutics for diseases of the central nervous system including neurological and psychiatric disorders. NuPathe's lead product candidate, Zelrix, is an active, single-use, transdermal sumatriptan patch being developed for the treatment of migraine. In addition to Zelrix, NuPathe has two additional proprietary product candidates: NP201 for the continuous symptomatic treatment of Parkinson's disease, which the company plans to partner, and NP202 in preclinical development for the long-term treatment of schizophrenia and bipolar disorder.Cautionary Statement About Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that are not historical facts are hereby identified as forward-looking statements for this purpose and include, among others, statements relating to: the benefits of, and the financial flexibility afforded by, the additional term loan; the timing of, and preparedness for, the commercial launch of Zelrix; and the potential benefits of Zelrix and NuPathe's other product candidates. Forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from those indicated by the forward-looking statements contained herein including, among others: NuPathe's ability to obtain marketing approval for and commercialize Zelrix; serious adverse events or other safety risks that could require NuPathe to abandon or delay development of, or preclude or limit approval of, Zelrix or its other product candidates; varying interpretation of clinical and market data; and the risks, uncertainties and other factors discussed in NuPathe's Annual Report on Form 10-K for the year ended December 31, 2010 under the caption "Risk Factors" and elsewhere in such report, which is available on NuPathe's website at www.nupathe.com in the "Investor Relations - SEC Filings" section. While NuPathe may update certain forward-looking statements from time to time, it specifically disclaims any obligation to do so, whether as a result of new information, future developments or otherwise. You are cautioned not to place undue reliance on any forward-looking statements.
Keith A. Goldan
Vice President, Chief Financial Officer