Source - SMW
Antibiotics developer Motif Bio said lender Hercules Capital had agreed to push back the company's next amortisation date to 1 October, from 1 September.

The change would mean that the September payment would be interest only.

Motif Bio said the change was made in support of managing its cash position to advance its pipeline expansion strategy, and prepare for an upcoming meeting with the FDA.

'We are well prepared for the meeting with the FDA on September 19 to discuss our proposed clinical trial for iclaprim,' chief executive Graham Lumsden said.

'In addition, we are actively pursuing options to broaden our pipeline as we work to build shareholder value.'

'We appreciate the continued support and flexibility of Hercules and the confidence that they have in our team to deliver on our strategic goals.'

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