Urigen Pharmaceuticals, Inc., a specialty pharmaceutical company focused on the development of treatments for urological disorders and pain, announced the successful completion on June 23, 2014 of the restructuring proposed to and approved by its stockholders at the 2014 Annual Meeting of Stockholders held on May 27, 2014, and post-close transactions.

As part of the restructuring, Urigen filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation on June 23, 2014, effecting a reverse split of its common stock and increasing the number of authorized shares to 20,000,000 shares of common stock and 10,000,000 shares of preferred stock. Pursuant to this reverse stock split, each five thousand (5,000) shares of common stock of Urigen issued and outstanding at the time of the filing of the Certificate of Amendment was converted into one (1) share of Urigen common stock. Fractional shares of post-reverse split common stock will not be issued as a result of the reverse stock split. Instead, Urigen will make cash payments equal to $265.50 per post-reverse split share of common stock.

Also, as part of the restructuring, Urigen completed the transactions contemplated by the Exchange and Waiver Agreement that was entered into on April 25, 2014 and was approved at the Stockholders' meeting. Under the Exchange and Waiver Agreement, Platinum-Montaur Life Sciences, LLC ("Platinum") was issued 95.469 shares of newly authorized Series D Preferred Stock (Series D Shares) which are convertible into 95,469 shares of common stock (on a post-reverse split basis) and other lenders to the Company, including its directors and executive officers, were issued an aggregate of 11,455 shares of common stock (on a post-reverse split basis), in each case, as consideration for waivers of existing defaults under notes, preferred stock and other instruments that were previously issued to them. In sum, after the restructuring, Urigen has approximately 30,000 shares of post-reverse split common stock issued and outstanding.

As part of the restructuring Platinum provided Urigen with $3 million (Three Million Dollars) of new financing in the form of a loan evidenced by a secured promissory bridge note (Bridge Note).

Urigen Pharmaceuticals, Inc. is a specialty pharmaceutical company dedicated to the development and commercialization of therapeutic products for urological disorders. Urigen's lead program targets significant unmet medical need and major market opportunities in urology. Urigen's URG101, a proprietary combination of approved drugs that is instilled into the bladder, targets interstitial cystitis / bladder pain syndrome, which affects approximately 10.5 million men and women in North America.