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:4/28/2016)... ... 28, 2016 , ... Connecticut Innovations (CI), the ... announced the launch of VentureClash , a $5 million global investment challenge ... looks to attract the best early-stage companies here in Connecticut, around the country ...
(Date:4/27/2016)... ... , ... Cambridge Semantics, the leading provider of Smart Data analytic ... been named to The Silicon Review’s “20 Fastest Growing Big Data Companies of 2016.” ... the needs of end users facing some of the most complex data challenges in ...
(Date:4/27/2016)... 2016 NanoStruck Technologies Inc. ... ( Frankfurt : 8NSK) gibt bekannt, ... 13. August 2015 die Genehmigung von der CNSX ... 200.000.000 Einheiten auf 400.000.000 Einheiten zu erhöhen, um ... wurden 157.900.000 Einheiten mit dem ersten Teil der ...
(Date:4/27/2016)... ... April 27, 2016 , ... ... its Scientific Advisory Board. Dr. Lamka will assist PathSensors in expanding the use ... , PathSensors deploys the CANARY® test platform for the detection of harmful pathogens, ...
Breaking Biology Technology:
(Date:4/26/2016)... , April 27, 2016 ... the  "Global Multi-modal Biometrics Market 2016-2020"  report to ... ) , The analysts forecast the ... CAGR of 15.49% during the period 2016-2020.  ... number of sectors such as the healthcare, BFSI, ...
(Date:4/15/2016)... 2016  A new partnership announced today will ... decisions in a fraction of the time it ... high-value life insurance policies to consumers without requiring ... Force Diagnostics, rapid testing (A1C, Cotinine and HIV) ... pressure, weight, pulse, BMI, and activity data) available ...
(Date:4/14/2016)... Israel , April 14, 2016 ... Authentication and Malware Detection, today announced the appointment of ... assumed the new role. Goldwerger,s leadership appointment ... on the heels of the deployment of its platform ... BioCatch,s behavioral biometric technology, which discerns unique cognitive and ...
Breaking Biology News(10 mins):