Navigation Links
Tengion Addresses Recent Trading Activity in its Common Stock
Date:2/16/2011

EAST NORRITON, Pa., Feb. 16, 2011 /PRNewswire/ -- Tengion, Inc. (Nasdaq: TNGN), a leader in regenerative medicine, today announced that it has been engaged in negotiations with a publicly traded company relating to the acquisition of Tengion through a stock-for-stock merger.  As a result of the recent increases in the trading price and volume of Tengion's common stock, Tengion's potential acquirer has terminated merger negotiations.

As has previously been stated in the Company's filings with the Securities and Exchange Commission, Tengion believes it has sufficient cash to fund its operations into April 2011.  If Tengion cannot secure either a sale transaction or alternative financing through partnership or equity investment, Tengion may need to take steps to wind down its operations so as to preserve the value of its assets for the benefit of its creditors and stockholders.

About Tengion

Tengion, a clinical-stage biotechnology company, has pioneered the Organ Regeneration Platform™ that enables the Company to create proprietary product candidates that are intended to harness the intrinsic regenerative pathways of the body to produce a range of native-like organs and tissues. Tengion's product candidates seek to eliminate the need to utilize other tissues of the body for a purpose to which they are poorly suited, procure donor organs or administer anti-rejection medications. An initial clinical trial is ongoing for the Company's lead product candidate, the Neo-Urinary Conduit™, an autologous implant that is intended to catalyze regeneration of native-like bladder tissue for bladder cancer patients requiring a urinary diversion following bladder removal.  The Company's lead preclinical program is the Neo-Kidney Augment™, which is designed to delay or prevent the need for dialysis or transplantation in patients at risk for kidney failure.  Tengion has also applied its technology in two Phase II clinical trials for Tengion's Neo-Bladder Augment™ for the treatment of neurogenic bladder.  Tengion has worldwide rights to its product candidates. For more information, please visit www.tengion.com.

Forward-Looking Statements

Certain statements set forth above may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to the ability to finance Tengion's operations into April 2011 and the potential need to wind down operations.  Although Tengion believes that these statements are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there are a number of factors that may cause actual results to differ from these statements.  For instance, there can be no assurance that: (i) Tengion will be able to enter into a definitive agreement with respect to a sale transaction or alterative financing, or (ii) even if Tengion enters into a definitive agreement related to a sale transaction or alternative financing, there can be no assurance that the terms of such an agreement would be favorable to Tengion and its stockholders and such a transaction would likely be subject to a number a closing conditions, such as approval by Tengion's stockholders.  For additional factors which could cause actual results to differ from expectations, reference is made to the reports filed by the Company with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. The forward looking statements in this release are made only as of the date hereof and Tengion disclaims any intention or responsibility for updating predictions or expectations in this release.


'/>"/>
SOURCE Tengion, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Tengion to Present at the 13th Annual BIO CEO & Investor Conference and the Leerink Swann Hot Topics in Therapeutics Roundtable Conference
2. Tengion Presents New Large Animal Data Demonstrating Functional Kidney Regeneration at the American Society for Transplantation Annual Conference
3. Tengion Appoints Richard E. Kuntz, MD to its Board of Directors
4. Tengion Announces Webcast of Analyst and Investor Meeting on October 27, 2010
5. Tengion Appoints A. Brian Davis Chief Financial Officer
6. Tengion Presents New Data Supporting its Organ Regeneration Platform™ at 8th Annual Meeting of the International Society for Stem Cell Research
7. Tengion Presents New Data Supporting Key Urologic and Kidney Programs at 16th Annual Meeting of the International Society for Cellular Therapy
8. Tengion to Present at the Piper Jaffray 20th Annual Healthcare Conference
9. Tengion Announces Second Closing of Series C Financing
10. Tengion Featured as Model of Innovation and Success at 35th Anniversary Celebration of the National Venture Capital Association
11. Tengion Scientists Publish Positive Preclinical Findings With Neo-Organ Demonstrating Long-term Durability and Growth With Skeletal Maturation
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... June 23, 2016 , ... Mosio, a ... eBook, “Clinical Trials Patient Recruitment and Retention Tips.” Partnering with experienced clinical research ... by providing practical tips, tools, and strategies for clinical researchers. , “The landscape ...
(Date:6/23/2016)... June 23, 2016 /PRNewswire/ - FACIT has announced ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" ... commercialization of a portfolio of first-in-class WDR5 inhibitors ... such as WDR5 represent an exciting class of ... precision medicine for cancer patients. Substantial advances have ...
(Date:6/23/2016)... , ... June 23, 2016 , ... ... YM (Yeast and Mold) microbial test has received AOAC Research Institute approval 061601. ... microbial tests introduced last year,” stated Bob Salter, Vice President of Regulatory and ...
(Date:6/23/2016)... SAN FRANCISCO , June 23, 2016   ... it has secured $1 million in debt financing from ... to ramp up automation and to advance its drug ... for its new facility. "SVB has been ... goes beyond the services a traditional bank would provide," ...
Breaking Biology Technology:
(Date:5/12/2016)... WearablesResearch.com , a brand of Troubadour Research & ... Q1 wave of its quarterly wearables survey. A particular ... a program where they would receive discounts for sharing ... "We were surprised to see that so many ... CEO of Troubadour Research, "primarily because there are segments ...
(Date:4/28/2016)... BANGALORE, India , April 28, 2016 ... of Infosys (NYSE: INFY ), and Samsung SDS, ... partnership that will provide end customers with a more ... payment services.      (Logo: http://photos.prnewswire.com/prnh/20130122/589162 ) ... financial services, but it also plays a fundamental part in ...
(Date:4/26/2016)... -- Research and Markets has announced the ...  report to their offering.  , ,     (Logo: ... forecast the global multimodal biometrics market to grow ... 2016-2020.  Multimodal biometrics is being implemented ... healthcare, BFSI, transportation, automotive, and government for controlling ...
Breaking Biology News(10 mins):