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Pryor Cashman client Javelin Pharmaceuticals, Inc. (AMEX: JAV) has received $27.5 million of gross proceeds pursuant to a takedown of a portion of its effective shelf registration statement filed in February 2008. The takedown transaction, which closed on May 15, 2008, involved a registered direct offering of 11,423,107 shares of Javelin's common stock at an offering price of $2.41.

Pryor Cashman acted as counsel to Javelin in the transaction. The Pryor Cashman team was comprised of Corporate partners Jeffrey Johnson and Richard Frazer and associates Michael Campoli and David Parsly.