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:1/22/2015)... Controlled Substance Compliance Services (CSCS), a project ... the legal requirements around using controlled substances in pharmaceutical ... As their international operations expand and become increasingly complex, ... as a result of the first phase of the ...
(Date:1/22/2015)... 2015   Cypher Genomics, Inc., the leading ... SQNM ), the leading molecular diagnostics company, ... noninvasive prenatal tests (NIPT). Through this agreement, Sequenom ... to advance analysis of clinically-relevant fetal sub-chromosomal variants ...
(Date:12/25/2014)... The report “Service Quality Management and Telco ... Type - Global Advancements, Worldwide Forecasts & Analysis (2014-2019)” ... and forecasting of revenues. , Browse 152 market ... in-depth TOC on “Service Quality Management (SQM) and Telco ...
(Date:12/24/2014)...   BioLife Solutions , Inc. (NASDAQ: BLFS ), ... hypothermic storage and cryopreservation freeze media ... tissues  ("BioLife" or the "Company"), today announced that it will ... 2015 (the "Annual Meeting"). Because the expected date ...
Breaking Biology Technology:Global Compliance Service for Controlled Substances to Expand to China 2Cypher Genomics and Sequenom Announce Development Agreement 2Cypher Genomics and Sequenom Announce Development Agreement 3Cypher Genomics and Sequenom Announce Development Agreement 4Service Quality Management Market worth $2.1 Billion & Telco Customer Experience Management Market worth $2.3 Billion by 2019 – New Report by MarketsandMarkets 2Service Quality Management Market worth $2.1 Billion & Telco Customer Experience Management Market worth $2.3 Billion by 2019 – New Report by MarketsandMarkets 3Service Quality Management Market worth $2.1 Billion & Telco Customer Experience Management Market worth $2.3 Billion by 2019 – New Report by MarketsandMarkets 4BioLife Solutions Sets Date for Annual Meeting of Stockholders 2
... HARBIN, China, Sept. 14 /PRNewswire-Asia-FirstCall/ -- ... ... ... keyed by longUrl, so we need to grab the first one. for (var r in data.results) { ...
... Optimer Pharmaceuticals, Inc. (Nasdaq: OPTR ... American and European fidaxomicin Phase 3 clinical trials ... (CDI) was presented at the 50th Annual Interscience ... Boston. (Logo: http://photos.prnewswire.com/prnh/20090413/LA97352LOGO ) ...
... CRANBURY, N.J., Sept. 14 Innophos Holdings, Inc. (Nasdaq: ... today announced that Randy Gress, Chief Executive Officer, will address ... September 30, 2010 at 8:00 a.m. (Eastern Time).   ... event, please go to www.innophos.com Investor Relations Events ...
Cached Biology Technology:Weikang Bio-Technology Issues 2010 and 2011 Fiscal Year Guidance 2Weikang Bio-Technology Issues 2010 and 2011 Fiscal Year Guidance 3Weikang Bio-Technology Issues 2010 and 2011 Fiscal Year Guidance 4Weikang Bio-Technology Issues 2010 and 2011 Fiscal Year Guidance 5Weikang Bio-Technology Issues 2010 and 2011 Fiscal Year Guidance 6Weikang Bio-Technology Issues 2010 and 2011 Fiscal Year Guidance 7Weikang Bio-Technology Issues 2010 and 2011 Fiscal Year Guidance 8Optimer Announces Presentation of Additional Data from Fidaxomicin Phase 3 Study for the Treatment of Clostridium difficile Infection (CDI) Presented at ICAAC 2Optimer Announces Presentation of Additional Data from Fidaxomicin Phase 3 Study for the Treatment of Clostridium difficile Infection (CDI) Presented at ICAAC 3Optimer Announces Presentation of Additional Data from Fidaxomicin Phase 3 Study for the Treatment of Clostridium difficile Infection (CDI) Presented at ICAAC 4Optimer Announces Presentation of Additional Data from Fidaxomicin Phase 3 Study for the Treatment of Clostridium difficile Infection (CDI) Presented at ICAAC 5Optimer Announces Presentation of Additional Data from Fidaxomicin Phase 3 Study for the Treatment of Clostridium difficile Infection (CDI) Presented at ICAAC 6Optimer Announces Presentation of Additional Data from Fidaxomicin Phase 3 Study for the Treatment of Clostridium difficile Infection (CDI) Presented at ICAAC 7
(Date:1/22/2015)... NXT-ID, Inc. (NASDAQ: NXTD and NXTDW) a biometric ... recent success of the Wocket™ smart wallet at CES 2015 in ... named as one of the "11 Hot Products at CES" in a ... CES So Far" by Newseveryday.com and "The top 10 gadgets from CES ...
(Date:1/22/2015)... , Jan. 21, 2015  Analyst Report Issued by Small Cap ... report showed that planet-wide, transactions at merchants on the leading ... total number of credit, debit, and prepaid cards reached 6.54 ... victims of fraudulent card usage in 2012, and credit and ...
(Date:1/22/2015)... and Markets ( http://www.researchandmarkets.com/research/wxdglm/global_wearable ) has ... Technologies Market and Applications, Opportunities, Industry Analysis, Segmentation, ... report to their offering. , ... be worn on the user,s body and have ...
Breaking Biology News(10 mins):CES Response for NXT-ID's Wocket Smart Wallet Kicks Off 2015 2CES Response for NXT-ID's Wocket Smart Wallet Kicks Off 2015 3$4.80 Near Term Price Target with "Buy" given by CapRock Research for NXT-ID, Inc. (NASDAQ: NXTD) issued by Small Cap IR 2Global Wearable Technologies Market and Applications, Opportunities, Industry Analysis, Segmentation, Size, Growth, Share, Overview, Trends and Forecast 2014-2020 2
... National Institutes of Health is making available approximately ... for graduate students and postdoctoral scholars to prepare ... that could take them outside of conventional academic ... Broadening Experience in Scientific Training (BEST) awards are ...
... Geosphere has posted additions to several themed issues: ... Geodynamics and Consequences of Lithospheric Removal in the Sierra ... Snake River Plain-Yellowstone Region and Adjacent Areas; Origin and ... other articles cover terrestrial laser scanning and the earthquake ...
... University scientist Bryan Venters, Ph.D., has shed new light ... begun to explore a possible new approach to treating ... of Molecular Physiology and Biophysics who further developed the ... of Frank Pugh, Ph.D., at Pennsylvania State University before ...
Cached Biology News:NIH announces awards to strengthen the biomedical research workforce 2NIH announces awards to strengthen the biomedical research workforce 3Geosphere, GSA's dynamic online-only journal posts 9 new articles in Sept. 2Geosphere, GSA's dynamic online-only journal posts 9 new articles in Sept. 3Geosphere, GSA's dynamic online-only journal posts 9 new articles in Sept. 4Geosphere, GSA's dynamic online-only journal posts 9 new articles in Sept. 5Geosphere, GSA's dynamic online-only journal posts 9 new articles in Sept. 6Geosphere, GSA's dynamic online-only journal posts 9 new articles in Sept. 7Geosphere, GSA's dynamic online-only journal posts 9 new articles in Sept. 8Geosphere, GSA's dynamic online-only journal posts 9 new articles in Sept. 9Study helps bring genome's 'dark matter' into light 2
Vybrant® Multidrug Resistance Assay Kit...
...
... The CultureWell cell culture systems ... cultured cells for staining and imaging. ... preassembled with standard optical-quality coverslips in ... is provided sterile and ready to ...
... product contains 5 ml of DETACHaBEAD Mouse ... mouse CD4+ T cells from Dynabeads Mouse ... CD4+ T cells from Dynabeads Mouse CD4 ... are suitable for any downstream application including ...
Biology Products: