Protein Polymer Extends Public Warrant Expiration Date
SAN DIEGO, Dec. 10, 1996 -- Protein Polymer Technologies, Inc.
(Nasdaq: PPTI) announced today an extension to the expiration date of its
publicly held Redeemable Warrants (Nasdaq: PPTIW).
With this extension, the Redeemable Warrants may be exercised at any time
prior to 5:30 p.m. (New York time) on January 21, 1998. The previous
Expiration Date was 5:30 p.m. (New York time) on January 21, 1997. Each
Redeemable Warrant represents the right to purchase one share of the Company's
common stock at an exercise price of $8.00 per share, subject to certain
adjustments.
Protein Polymer Technologies, Inc. is a development stage biomaterials
company focused on tissue repair and drug delivery. PPTI's genetically
engineered, protein-based biomaterials can be designed specifically for use as
biocompatible implants directing the activities of mammalian cells. Products
being developed include tissue adhesives and sealants, wound healing matrices,
surgical adhesion barriers, and drug delivery devices. PPTI also markets a
line of protein polymer-activated cell culture products under the trade names
of ProNectin(R) and SmartPlastic(R). |