A.P. Pharma Closes $40 Million Common Stock Offering; Underwriters Exercise Full over-Allotment Option

A.P. Pharma, Inc. (NASDAQ:APPA, temporarily traded under the symbol "APPAD" until June 25, 2007 to reflect the recent reverse stock split), a specialty pharmaceuticals company, announced the completion of a public offering of 24,393,939 shares of its common stock at a public offering price of $1.65 per share, including 3,181,818 shares sold pursuant to the full exercise of an over-allotment option granted to the underwriters. Proceeds from this offering are intended to be used for clinical development of APF530, the Company's lead product candidate; development and clinical testing of our other product candidates; and for working capital, capital expenditures and other general corporate...

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