YORK, Pa., Sept. 23, 2011 /PRNewswire/ -- Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS; ASX: UNS) today advised that its Chief Executive Officer, Alan Shortall, intends to purchase an additional U.S. $500,000 in shares of the Company's common stock between Monday, September 26th and Friday, September 30th. These purchases of Unilife shares will be part of Mr. Shortall's announcement on August 17th to purchase up to $1.0 million in shares by September 30th.
This announcement qualifies as Mr. Shortall's twenty-four hours advance notice to U.S. markets regarding these purchases of Unilife shares in the open market.
These intended purchases by Mr. Shortall in Unilife common stock, and the timing in which they occur, are subject to restrictions set forth in the Company's insider trading policy and will be effected in compliance with applicable U.S. and Australian securities laws.
Mr. Shortall is the largest shareholder in Unilife. The upcoming purchases of Unilife shares by Mr. Shortall follow his most recent open market purchases of more than $500,000 in shares in March and another approximately $500,000 in shares in August 2011.
About Unilife Corporation
Unilife Corporation (NASDAQ: UNIS / ASX: UNS) is a U.S.-based developer, manufacturer and supplier of advanced drug delivery systems with state-of-the-art facilities in Pennsylvania. Established in 2002, Unilife works with pharmaceutical and biotechnology companies seeking innovative devices for use with their parenteral drugs and vaccines. Unilife has developed a broad, differentiated proprietary portfolio of its own injectable drug delivery products, including the Unifill® and Unitract® product lines of safety syringes with automatic, operator controlled needle retraction. Unifill represents the world's first prefilled syringe technology integrating safety within the primary drug container. The products are ideally positioned to help pharmaceutical companies maximize the lifecycle of their injectable drugs and enhance patient care. Unifill syringes, together with other devices that are part of the Unilife technology platform, can either be supplied to pharmaceutical customers ready for use, or customized to address the specific requirements of targeted novel drugs. For more information on Unilife, please visit www.unilife.com. Follow us on Twitter. Like us on Facebook.
This press release contains forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to our management. Our management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in "Item 1A. Risk Factors" and elsewhere in our Annual Report on Form 10-K and those described from time to time in other reports which we file with the Securities and Exchange Commission.
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SOURCE Unilife Corporation