Navigation Links
Empirical Search Strategies Seeks Downside Protection Option at Avigen, Inc.
Date:3/20/2009

l" from an acquirer who is in financial distress by offering them a pile of cash. However, if a potential buyer is strapped for cash in this environment, it's probably not a company Avigen shareholders want to own--even if they offer a slight premium. As a matter of fact, the very thought of owning a distressed company is the main reason ESS values a downside protection measure that is clear and transparent from the beginning.

In conclusion, ESS believes it is not impossible that in a year from now Avigen shareholders will find themselves experiencing a bout of deja vu. We worry that we will be holding a biotech company that is burning cash, selling at .5x liquidation value, and paying management salaries of $500,000 to $1,000,000 a year during the worst economic environment since the Great Depression. In the end, ESS believes the following statement from Avigen (or anything even resembling this statement) would maximize the utility of all Avigen shareholders, and cause BVF to IMMEDIATELY drop their proxy fight, which will save shareholders the fees associated with the proxy battle:

"Dear Avigen Shareholders:

Regardless of the deal we choose to pursue, we will guarantee a downside protection option for all shareholders. Specifically, we will offer all shareholders the opportunity to exchange their shares for $1.10, six months following the closing of a deal. If shareholders find that the NewCo is simply burning cash and providing no value, they will have a 30 day window to exchange their shares for $1.10 per share. If shareholders believe the NewCo is worth more than $1.10, they can maintain their ownership in NewCo and participate in the future of the company.

We believe this arrangement will provide downside protection to shareholders who are risk-averse in the current economic environment, and at the same time, this deal will offer NewCo management an
'/>"/>

SOURCE Empirical Search Strategies, L.P.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Venter Institute Launches the J. Robert Beyster and Life Technologies 2009-2010 Research Voyage of the Sorcerer II Expedition
2. StartUpHire Launches Comprehensive Search Engine for Jobs at Venture-Backed Companies
3. HOGGAN Ergo Announces Highly Anticipated Enhancements to the ergoFET Handheld Digital Force Gauge, Greatly Impacting the Field of Ergonomic Research and Application
4. Renowned Stem Cell Researcher Files Study Results With Stemedica
5. Medarex Announces Presentations at Annual Meeting of the American Association for Cancer Research
6. Thomson Reuters Names Hottest Researchers and Papers of 2007-2008
7. DuPont Partners with Indonesian Center for Rice Research to Advance Hybrid Rice
8. Oncolytics Biotech(R) Inc. Announces Reovirus Research to be Presented at AACR Annual Meeting
9. Micromet to Present Six Posters on Progress of BiTE Antibodies at the Annual Meeting of American Association for Cancer Research
10. FasterCures Rewards Two InnoCentive Solvers for Innovative Ideas to Accelerate Medical Research
11. BG Medicine Signs Collaborative Research Agreement with the National Heart, Lung and Blood Institute (NHLBI), and Boston University
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/30/2015)... DIEGO, July 30, 2015   Senomyx , Inc. ... taste science technologies to discover, develop, and commercialize novel ... industries, today reported financial results for the second quarter ... of 2015, we remain on track to achieve our ... Chief Executive Officer of the Company. "Since our last ...
(Date:7/30/2015)... WARRINGTON, Pa. , July 30, 2015 /PRNewswire/ ... announced that it has received the second $1.0M ... Business Innovation Research (SBIR) grant valued at up ... the company,s aerosolized KL4 surfactant as a potential ... lung injury.  Discovery Labs was awarded an initial ...
(Date:7/29/2015)... July 30, 2015 Sanofi, ... publie ses résultats pour le premier semestre 2015. ... les résultats. Visionner l,interview vidéo et ... Au sommaire de l,interview :  ... Moteurs de croissance - Diabète ...
(Date:7/29/2015)... /PRNewswire/ - BioAmber Inc. (NYSE: BIOA ) today announced ... Officer has resigned.  The Company has hired Andrew ... in December 2014, as full time interim CFO and ... Andy Ashworth began his employment today, ... transition.  Andy was the Company,s CFO from September 2011 ...
Breaking Biology Technology:SENOMYX ANNOUNCES SECOND QUARTER 2015 FINANCIAL RESULTS 2SENOMYX ANNOUNCES SECOND QUARTER 2015 FINANCIAL RESULTS 3SENOMYX ANNOUNCES SECOND QUARTER 2015 FINANCIAL RESULTS 4SENOMYX ANNOUNCES SECOND QUARTER 2015 FINANCIAL RESULTS 5SENOMYX ANNOUNCES SECOND QUARTER 2015 FINANCIAL RESULTS 6SENOMYX ANNOUNCES SECOND QUARTER 2015 FINANCIAL RESULTS 7SENOMYX ANNOUNCES SECOND QUARTER 2015 FINANCIAL RESULTS 8SENOMYX ANNOUNCES SECOND QUARTER 2015 FINANCIAL RESULTS 9Discovery Labs Receives $1.0 million under an SBIR Grant in Continuing Support of the Development of Aerosolized KL4 Surfactant to Address Radiation-Induced Lung Injury 2Discovery Labs Receives $1.0 million under an SBIR Grant in Continuing Support of the Development of Aerosolized KL4 Surfactant to Address Radiation-Induced Lung Injury 3BioAmber Announces Change in Chief Financial Officer 2BioAmber Announces Change in Chief Financial Officer 3
... MOUNTAIN VIEW, Calif., May 12 Alexza,Pharmaceuticals, Inc. (Nasdaq: ... quarter ended March 31, 2008 and provided an update ... loss for the 2008,first fiscal quarter, as reported in ... (GAAP), was $14.6 million, compared,to a net loss of ...
... IDIX ) announced today that Idenix management,will present ... Annual Global,Healthcare Conference on Tuesday, May 20, 2008 at ... Monte Carlo, Monaco., The live and archived webcast ... Events" in the Idenix Investor Center at, http://www.idenix.com . ...
... N.J., May 12 Synvista Therapeutics,Inc. (Amex: SYI ) ... Officer of Synvista will present at the upcoming Rodman,& Renshaw ... 12:10 p.m. CEST (6:10 a.m. EDT). The event will be ... Hotel in Monte Carlo., Dr. Berkowitz will discuss the ...
Cached Biology Technology:Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 2Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 3Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 4Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 5Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 6Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 7Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 8Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 9Alexza Reports 2008 First Quarter Financial Results and Updates Development of Product Candidates 10Synvista Therapeutics to Present at Acumen BioFin Rodman & Renshaw 5th Annual Global Healthcare Conference 2Synvista Therapeutics to Present at Acumen BioFin Rodman & Renshaw 5th Annual Global Healthcare Conference 3
(Date:7/30/2015)... VIEW, Calif. , July 30, 2015 /PRNewswire/ ... and services for gene function analysis and biomarker ... Guide RNA (sgRNA) Knockout Library targeting all human ... specifically and permanently "knock out" a gene,s function. ... provides a high throughput screening tool so that ...
(Date:7/27/2015)... 2015  Synaptics Inc. (NASDAQ: SYNA ), ... announced that Huawei has selected the Synaptics ® ... stylish smartwatch. Huawei chose the state-of-the-art ClearPad capacitive ... and highly responsive human interface qualities such as ... required a classic round watch face and Synaptics ...
(Date:7/27/2015)... LOS ANGELES , July 27, 2015 /PRNewswire/ ... providing evidence- and experience-based clinical improvement solutions, today ... coordination solution is now available on Android smartphones ... at inpatient and post-care organizations can use ZynxCarebook ... the same patient,s condition, streamline care transitions to ...
Breaking Biology News(10 mins):CELLECTA, INC. Announces Launch of Human Whole Genome CRISPR Knockout Library 2Synaptics Touchscreen Solution Powers New Huawei Watch 2Synaptics Touchscreen Solution Powers New Huawei Watch 3Zynx Health Adds Android Device Support to ZynxCarebook Solution 2Zynx Health Adds Android Device Support to ZynxCarebook Solution 3
... 2009 A canine chromosome 7 locus that confers ... identified through a collaboration between the Behavior Service at ... Medical Genetics at the University of Massachusetts Medical School ... Technology. The findings are published in the January 2010 ...
... lll. Researchers report that Helicobacter pylori , ... environment of the human stomach, directly activates an enzyme ... types of cancer, including gastric cancer. Chronic infection ... factor for several forms of gastric cancer, but researchers ...
... scientific conference has provided new evidence for the ... of spectacular marine life, including deadly jellyfish, basking ... ,South West Marine Ecosystems, meeting, held in Plymouth ... the scientific, conservation, fishing and eco-tourism sectors. The ...
Cached Biology News:Canine compulsive disorder gene identified in dogs 2Canine compulsive disorder gene identified in dogs 3Team finds link between stomach-cancer bug and cancer-promoting factor 2Team finds link between stomach-cancer bug and cancer-promoting factor 3Conference highlights impact of unsettled summer weather on UK marine life 2
Recombinant Mouse TGF-beta RII/(human) Fc Chimera, CF...
Recombinant Mouse Noggin...
... Deacetylase (HDAC) Antibody Sampler Kit Kit ... Catalog #2062, 40 ul Histone Deacetylase 3 ... Deacetylase 4 (HDAC4) Antibody, Catalog #2072, 40 ... #2082, 40 ul Histone Deacetylase 6 (HDAC6) ...
An instrument that delivers an accurate and uniform amount of light energy to cells to photoactivate csiRNA products....
Biology Products: