SciClone (SCLN) Adds $10.5M to Buyback Plan

May 29, 2012 6:35 AM EDT
SciClone Pharmaceuticals, Inc. (Nasdaq: SCLN) has approved an increase of approximately $10.5 million to the Company's stock repurchase program. The increase brings the total authorized since the program's inception in October 2011 to approximately $30.5 million. The total amount repurchased to date is approximately $10.5 million.

Under SciClone's stock repurchase program, purchases may be made from time to time in the open market, in privately negotiated transactions or otherwise, at times and in amounts as the Company deems appropriate. The number of shares to be purchased and the timing of any purchases may be subject to various factors, which may include the price of the common stock, general market conditions, corporate and regulatory requirements, including restrictions in the Company's debt covenants, and alternate investment opportunities. The share repurchase program may be modified or discontinued at any time.

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