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In many developing countries, efforts to prevent opioid diversion have often seriously interfered with the ability pharmaceutical companies to manufacture and distribute opioids, physicians to prescribe opioids and pharmacists to dispense opioids to patients suffering from moderate to severe pain. Read More Inadequate access to modern education and training on opioid pharmacology has exacerbated the issue among medical professionals in developing countries. Human Rights Watch reported that only five of the over 300 medical universities in India offer courses in palliative care, leaving physicians unfamiliar with how to carefully screen patients and safely prescribe opioids. Even at institutions which offer a pain curriculum, the content frequently fails to keep pace with the significant advances in knowledge about pain and opioid pharmacology. Outdated and inaccurate information about the benefits and risks of opioids can result in practices that limit the safe and effective use of opioid analgesics. Results from various surveys in developing countries confirm that excessively punitive national laws, fear of side effects and addiction, a poor health care infrastructure, lack of knowledge about opioids, and fear of regulatory sanctions are among the key reasons for continued lack of patient access to opioids. Thus, many care providers serving large populations in India, Russia and Mexico refuse to treat pain with opioids, noted Dr. Babul. While progress has been made in a small number of nations, the continued need for education among clinicians is apparent, and much remains to be done to correct unfounded fears and misconceptions that impede the provision of opioid analgesics when it is indicated.
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The warrants are exercisable by the holders thereof at any time for no additional consideration and all unexercised warrants shall be deemed to be automatically exercised following the satisfaction of certain conditions specified in the warrants. Until such warrants are exercised or automatically exercised following the satisfaction of such conditions, the subscription proceeds from this registered offering of warrants will be placed in escrow. Rodman & Renshaw, a unit of H.C. Wainwright & Co., is acting as the sole bookrunning manager for both offerings. AltaCorp Capital Inc. is acting as financial advisor to BioAmber. BioAmber intends to use the net proceeds of the underwritten offering and the registered offering of warrants for working capital and other general corporate purposes. The underwritten offering is expected to close on or about December 29, 2016 , subject to customary closing conditions and the closing of the registered direct offering. The shares of common stock, the warrants and the shares of common stock issuable upon exercise of the warrants described above are being sold by BioAmber pursuant to a shelf registration statement on Form S-3 (No. 333-196470) including a base prospectus, which was declared effective by the Securities and Exchange Commission (the “SEC”) on July 9, 2014 , and a related registration statement on Form S-3 filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended (Registration No. 333-162379), which became effective upon filing with the SEC on December 23, 2016 . Prospectus supplements relating to the offerings of the securities will be filed by the Company with the SEC. Copies of the prospectus supplements and the accompanying prospectuses relating to the securities being sold, when available, will be available on the SEC’s website located at www.sec.gov and may also be obtained by contacting Rodman & Renshaw, a unit of H.C. Wainwright & Co., at email@example.com .
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