BASi Announces Extension of Mortgage Maturity
WEST LAFAYETTE, IN -- (Marketwire) -- 11/09/12 -- Bioanalytical
Systems, Inc. (NASDAQ: BASI) announced today that it has negotiated a
six month extension, until May 2013, on the maturity of its
$5,787,000 mortgage that was originally scheduled to mature this
"This extension enhances our flexibility as we complete BASi's
restructuring and build a healthy business model for the future,"
said Interim President & CEO and CFO Jacqueline Lemke.
"The streamlining of our locations has improved capacity utilization
while allowing us to continue providing the high quality services and
instruments our clients expect from BASi. We are focused on taking
advantage of our competitive strengths -- specialty assay and
discovery capabilities, a long history of regulatory excellence, and
our market-changing Culex(R) automated in vivo sampling system -- and
we are optimistic about the outlook for fiscal 2013."
BASi expects to announce audited financial results for fiscal 2012 on
December 20, 2012.
About Bioanalytical Systems, Inc.
BASi is a pharmaceutical
development company providing contract research services and
monitoring instruments to the world's leading drug development
companies and medical research organizations. The company focuses on
developing innovative services and products that increase efficiency
and reduce the cost of taking a new drug to market. Visit
www.BASinc.com for more about BASi.
This release contains forward-looking statements that are subject to
risks and uncertainties including, but not limited to, risks and
uncertainties related to changes in the market and demand for our
products and services, the development, marketing and sales of
products and services, changes in technology, industry standards and
regulatory standards, and various market and operating risks detailed
in the company's filings with the Securities and Exchange Commission.
FOR MORE INFORMATION:
Interim President & CEO and CFO
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