July 7, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Advanced Life Sciences Holdings, Inc. (OTCBB: ADLS), a biopharmaceutical firm, said that it has established the pricing terms of its proposed offering of units.

The company said will offer up to 714,286 units at a price per unit of $4.20 for aggregate gross proceeds of up to $3.0 million. Each unit consists of 100 shares of the company's common stock, 100 stock warrants and one unit warrant.

Each stock warrant entitles its holder to purchase one share of the company's common stock at an exercise price of $0.042 per share. Each unit warrant entitles its holder to purchase one additional unit, consisting of 100 shares of our common stock and 100 stock warrants, at the same price per unit as above.

The stock warrants may be exercised at any time during the period commencing six months after the closing date and ending on the fifth anniversary of the closing date. The unit warrants may be exercised at any time during the period commencing on the closing date and ending on December 31, 2010 or, if earlier, the date that is 45 days after our first public announcement that the FDA has accepted the firm’s Special Protocol Assessment relating to the additional clinical data needed for regulatory approval of cethromycin in the treatment of community acquired pneumonia.

Advanced said that the offering is scheduled to close on or about July 7, 2010, subject to investor confirmation and customary closing conditions.

Illinois-based Advanced Life Sciences is a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases.

The company's lead candidate, Restanza, is a novel oral once-a-day antibiotic in late-stage development for the treatment of respiratory tract infections including CABP and biodefense pathogens including anthrax, plague and tularemia.

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