Navigation Links
CuraGen Repurchases $50.9 Million of 2011 Convertible Debt for $43.2 Million
Date:5/14/2008

BRANFORD, Conn., May 14 /PRNewswire-FirstCall/ -- CuraGen Corporation (Nasdaq: CRGN) announced today the completion of a series of privately negotiated transactions with holders of the Company's 4% Convertible Subordinated Notes due February 2011 (the "2011 Notes") in which the Company retired a total of $50.9 million of the 2011 Notes for an aggregate purchase price of $43.2 million, reflecting an aggregate discount of approximately 15.1% off of face value. CuraGen currently has approximately $100 million or $1.72 per share, in cash and investments on hand, and has $19.0 million of the 2011 Notes outstanding.

With the completion of these transactions, CuraGen will eliminate a total of approximately $5.6 million in interest payments on the 2011 Notes to maturity. The Company now anticipates ending 2008 with cash and investments of approximately $92 million, or $1.59 per share.

"Our planned, systematic strengthening of CuraGen's balance sheet continues with these latest transactions, which have increased our net cash position by approximately $8 million," stated Dr. Timothy Shannon, President and Chief Executive Officer of CuraGen Corporation. "Over the past 16 months, we have increased our net cash position by approximately $87 million, while eliminating over $157 million in debt and over $40 million in annual operating and interest expenses. We believe we are well capitalized with over $100 million to develop our un-partnered antibody drug conjugate, CR011-vcMMAE, in metastatic melanoma and breast cancer and to explore other potential near-term value creation opportunities."

About CuraGen

CuraGen Corporation (Nasdaq: '/>"/>

SOURCE CuraGen Corporation
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. CuraGen Corporation Announces Appointment of Dr. Timothy M. Shannon as President and Chief Executive Officer
2. CuraGen Appoints Clinical Oncologist as VP of Medical Development
3. CuraGen to Present at the 19th Annual Piper Jaffray Health Care Conference
4. CuraGen and TopoTarget Announce Initiation of an NCI-sponsored Phase II Clinical Trial of Belinostat for Thymoma and Thymic Carcinoma
5. CuraGen Corporation Announces Appointment of Sean Cassidy as CFO
6. CuraGen Corporation Receives Notification from NASDAQ
7. CuraGen Reports Fourth Quarter and Year End 2007 Financial Results
8. CuraGen to Present at the BIO CEO & Investor Conference
9. CuraGen Sells Ownership of Belinostat to TopoTarget A/S
10. Selection of Development Candidate Triggers $0.5 Million Milestone Payment to Ardea Biosciences, Inc.
11. H2Diesel Completes 3 Million Gallon Per Year Pilot Facility
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/28/2015)... ... 28, 2015 , ... Proove Biosciences , a commercial ... Spine Intervention Society’ s 23rd Annual Scientific Meeting (ASM). The ASM event ... focus on evidence-based research and clinical application, the event gathered industry thought leaders ...
(Date:8/28/2015)... Aug. 28, 2015 /PRNewswire/ - RepliCel Life Sciences ... medicine company focused on the development of autologous ... quarter ended June 30, 2015, corporate highlights, and ... report are available at www.sedar.com ,  ... "RepliCel expects to launch its RCS-01 ...
(Date:8/28/2015)... ... ... the initial launch of FireflySci Inc. (FFS) in early 2015, the company continues to shake ... as the Fonz in a lab coat and Large Marge have been posted on the ... , FireflySci is proud to be the only cuvette manufacturer is the world that ...
(Date:8/27/2015)... ... ... Capital Edge Consulting , a nationwide consulting firm that specializes in ... as one of the top 5000 companies listed on the 2015 Inc. 5000 ... “It is truly an honor to be recognized as one of America’s fastest growing ...
Breaking Biology Technology:Proove Biosciences Presents New Research Study at the International Spine Intervention Society’s Annual Scientific Meeting 2Proove Biosciences Presents New Research Study at the International Spine Intervention Society’s Annual Scientific Meeting 3Proove Biosciences Presents New Research Study at the International Spine Intervention Society’s Annual Scientific Meeting 4RepliCel Reports Second Quarter 2015 Financial Results 2RepliCel Reports Second Quarter 2015 Financial Results 3RepliCel Reports Second Quarter 2015 Financial Results 4RepliCel Reports Second Quarter 2015 Financial Results 5Cuvette Manufacturer FireflySci Launches Back to School Deals with Complimentary Shipping On All Orders 2Capital Edge Consulting Makes Inc. 5000 List of America’s Fastest-Growing Private Companies 2Capital Edge Consulting Makes Inc. 5000 List of America’s Fastest-Growing Private Companies 3
... PETACH TIKVA, Israel, August 16 Healthcare,Technologies Ltd. (NASDAQ: ... an,extraordinary general meeting of its shareholders to be held ... of Yigal Arnon & Co., 1 Azrieli,Center, Round Tower, ... shareholders will be asked to approve the previously,announced Asset ...
... Support for Vermed Sale, SAN DIEGO, Aug. 16 ... and leader of,impedance cardiography (ICG) technology, today announced that ... well with over 50%,of the necessary shareholder votes (approximately ... Vermed sale. The ratio of votes,received is running in ...
... affiliate of,Phlo Corporation (OTC: PHLC) (the "Company") announced ... now been expanded to the San,Francisco and Napa/Sonoma ... and stretching to the Oregon border. New ... Grocery in Palo Alto, Zanotto,s Grocery in Silicon ...
Cached Biology Technology:Healthcare Technologies Calls for a Shareholders Meeting to Approve the Nexgen Biofuels Transaction 2Healthcare Technologies Calls for a Shareholders Meeting to Approve the Nexgen Biofuels Transaction 3CardioDynamics Provides 2007 Shareholder Meeting Update 2CardioDynamics Provides 2007 Shareholder Meeting Update 3Phlo Affiliate Reports Expanded Coverage to Oregon Border 2
(Date:8/5/2015)... VIEW, Calif. , Aug. 5, 2015 ... exhibits continuous growth in applications, penetration into newer sectors, ... after year. The global biosensors space has seen the ... exited the market so far. (Photo - ... Frost & Sullivan, Analysis of the Global Biosensors ...
(Date:8/4/2015)...  AMRI (NASDAQ: AMRI ) today reported financial and operating ... Highlights: , Second quarter contract revenue of $ ... , Adjusted contract margins of 26 % ... $0.05 decrease in EPS from royalties in the current quarter ... "We are very pleased to present another strong financial quarter, ...
(Date:7/31/2015)... SHENZHEN , Kina, 31. juli 2015 ... ) bliver afholdt af BGI fra den 22. - 25. ... Konferencen fejrer sin 10-års fødselsdag i år. ... verdens mest indflydelsesrige årlige møder på ,omik,-feltet, og er ... forsamlinger. ICG-10 fokuserer på nylige gennembrud ...
Breaking Biology News(10 mins):Innovative Biosensors Incite Use in Non-Traditional Applications 2Innovative Biosensors Incite Use in Non-Traditional Applications 3Innovative Biosensors Incite Use in Non-Traditional Applications 4AMRI Announces Second Quarter 2015 Results 2AMRI Announces Second Quarter 2015 Results 3AMRI Announces Second Quarter 2015 Results 4AMRI Announces Second Quarter 2015 Results 5AMRI Announces Second Quarter 2015 Results 6AMRI Announces Second Quarter 2015 Results 7AMRI Announces Second Quarter 2015 Results 8AMRI Announces Second Quarter 2015 Results 9AMRI Announces Second Quarter 2015 Results 10AMRI Announces Second Quarter 2015 Results 11AMRI Announces Second Quarter 2015 Results 12AMRI Announces Second Quarter 2015 Results 13AMRI Announces Second Quarter 2015 Results 14AMRI Announces Second Quarter 2015 Results 15AMRI Announces Second Quarter 2015 Results 16AMRI Announces Second Quarter 2015 Results 17AMRI Announces Second Quarter 2015 Results 18AMRI Announces Second Quarter 2015 Results 19AMRI Announces Second Quarter 2015 Results 20AMRI Announces Second Quarter 2015 Results 21AMRI Announces Second Quarter 2015 Results 22AMRI Announces Second Quarter 2015 Results 23AMRI Announces Second Quarter 2015 Results 24Den 10. internationale konference om Genomics (ICG-10) åbner i oktober 2
... By coupling a kicked-up version of microscopy with miniscule particles ... so deep into living tissue that they can see molecules ... the researchers believe that their new approach can have a ... a tumor as it is removed from the body to ...
... Any way you slice it, the planarian,s contributions to biological ... a flatworm normally living in freshwater, is well known for ... into 200 pieces can generate 200 new individuals. New research ... master of regeneration, but can help scientists understand the basis ...
... mother of two to promote company,s highly secure, do ... yourself, smartTOUCH(R) finger activated products, JERICHO, ... today announced that it has hired Debbe Dunning as,the ... it,embarks upon an advertising campaign directed at the Home ...
Cached Biology News:New technique sees into tissue at greater depth, resolution 2New technique sees into tissue at greater depth, resolution 3'Home Improvement' Star Debbe Dunning is New smartTOUCH Spokesperson 2'Home Improvement' Star Debbe Dunning is New smartTOUCH Spokesperson 3
Mouse Anti-Human Kallikrein 2 (Hk2)...
... to Asb-2 (Ankyrin repeat and SOCS box-containing ... synthetic peptides containing amino acids 75-93 and ... lysate (Imgenex Catalog No. 40149) can be ... cross react with mouse and rat Asb-2, ...
Recognizes TWIK-2. Does not cross react with any other known proteins....
... Glycine Transporter 2, Neuronal (GLYT2). The ... from the central nervous system. The staining ... pattern described using in situ hybridization with ... has been described for glycinergic neurons. Preabsorption ...
Biology Products: