Bioanalytical Systems, Inc. (NASDAQ:BASI) announced today that it
has negotiated a twelve month extension, until October 31, 2014, on the
maturity of its $5,255,000 mortgage that was originally scheduled to
mature on October 31, 2013.
"This extension enhances our flexibility as we continue to explore
alternatives for this debt, including a sale/leaseback transaction on
our building in West Lafayette or a refinancing," said President, CEO
and CFO Jacqueline Lemke.
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.
Copyright Business Wire 2013