Navigation Links
VaxGen Addresses MPM Claims in Letter to Stockholders
Date:12/20/2007

nd

obligations, particularly in a liquidation scenario.

3. It implicitly assumes a rapid timeline for the distribution of

proceeds to stockholders.

I will discuss each of these points in some more detail below. However, you should be aware that we continue to market some of the assets in question. Accordingly, it is not appropriate for me to publicly disclose the details regarding these potential asset sales.

In summary, the facts are these: For ten months, VaxGen's Board, management and advisors pursued a full range of potential strategic transactions, including regularly analyzing the likely return to stockholders from liquidation. Much more detail on this process will be available to you in our S-4, which we expect will be filed shortly with the SEC. The most up-to-date liquidation analysis was done immediately prior to our signing the Raven merger agreement. As of early November, this analysis showed a potential distribution of approximately 95 cents per share.

In the event a liquidation option were pursued today, the proceeds would be materially lower, given the expenses and liabilities associated with ongoing operations and the costs of terminating the proposed merger with Raven. By contrast, the analyses performed by management and its advisors suggested valuations for the merged companies at a significant premium to liquidation value. Moreover, any potential liquidation proceeds would only be available to stockholders at some undefined future time after a very extensive and time consuming process, which would itself require a proxy solicitation and stockholder vote.

On the question of timing of a distribution if the liquidation option were selected, we have been informed that the process would likely take anywhere from one to two years from the point that it is initiated. Stockholders should not therefore be under any illusion that this is a quick route to a payout.

Turning to specifics, MPM ident
'/>"/>

SOURCE VaxGen
Copyright©2007 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9

Related biology technology :

1. VaxGen Files 2006 Financial Statements and Provides Cash Update
2. VaxGen Further Restructures to Preserve Cash as It Pursues Strategic Initiatives
3. VaxGen Files First Quarter 2007 Financials
4. Jack Anthony to Resign From VaxGens Board After Accepting CEO Position at Osprey Pharmaceuticals
5. VaxGen Files Last Outstanding Periodic Report With SEC
6. Free White Paper Addresses Challenges of New FDA Regulations Awaiting Combo Product Manufacturers
7. Former Banc of America Securities Analyst David Maris Comments on Decision by Biovail to Drop Its Claims Against Him; Denies That He is Cooperating With Biovail
8. European Patent Office Upholds Martek European DHA Food Patent; Scope of Original Claims Narrowed
9. Lonza Withdraws Majority of Claims in Patent Lawsuit Against Northwest Biotherapeutics
10. Ciphergen Biosystems Receives Noncompliance Letter From The Nasdaq Stock Market
11. Indevus Receives Approvable Letter From FDA for VALSTAR(R) for Bladder Cancer Therapy
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/18/2014)... 18, 2014 /PRNewswire/ - SQI Diagnostics Inc. (TSX-V: SQD), a ... and products for advanced microarray diagnostics, today announced it ... 22 at 2:00 pm ET.  During ... a brief review of SQI,s recent commercialization progress and ... industry veteran recently appointed to the Board of Directors ...
(Date:8/18/2014)... WASHINGTON , Aug. 18, 2014   Sterne, ... law firm in Washington, DC , ... Inter Partes Review (IPR) with the U.S. ... Inc., a subsidiary of BioReference Laboratories, Inc. (Nasdaq: BRLI). ... co-owned, or licensed by Myriad Genetics, Inc. These patents ...
(Date:8/18/2014)... HIV Infection Drug Market and Pipeline Insight is a ... infection and the number of deaths due to AIDS has ... the globe. It has been estimated that the death rate ... with the rates for children being even much lower. A ... has been the improved access to antiretroviral drugs and therapy ...
(Date:8/18/2014)... 2014 According to the ... Application (Municipal Wastewater Treatment and Industrial Wastewater Treatment), ... Tubular), By Configuration (Internal/Submerged and External/Sidestream), and By ... The market for membrane bioreactor systems is projected ... a CAGR of 15.28% between 2014 and 2019. ...
Breaking Biology Technology:SQI Diagnostics Announces Investor Conference Call with Dr. Allan Pronovost 2SQI Diagnostics Announces Investor Conference Call with Dr. Allan Pronovost 3Sterne Kessler Files 11 IPR Petitions On Behalf Of GeneDx, Inc., Subsidiary Of BioReference Laboratories, Inc. 2Sterne Kessler Files 11 IPR Petitions On Behalf Of GeneDx, Inc., Subsidiary Of BioReference Laboratories, Inc. 3Global HIV Infection Drug Market Overview 2Global HIV Infection Drug Market Overview 3Global HIV Infection Drug Market Overview 4Membrane Bioreactor Systems Market Worth $2,927 Million by 2019 2Membrane Bioreactor Systems Market Worth $2,927 Million by 2019 3
... SAN DIEGO, Nov. 4 ADVENTRX Pharmaceuticals,Inc. (Amex: ... President,Operations of ADVENTRX, is scheduled to present at the ... is scheduled to present,on Tuesday, November 11th, 2008 at ... takes place November 10-12, 2008 at the,Palace Hotel in ...
... patients, in only 75 minutes using Cepheid,s ... Dorset County Hospital (DCH) is,working hard to reduce ... enhanced MRSA surveillance. As part of the programme, DCH ... hospitals to identify patients who carry the bacteria on ...
... DURECT Corporation,(Nasdaq: DRRX ) announced today financial results ... were $6.6 million for the three months,ended September 30, ... in,2007. Net loss for the three months ended September ... of $7.9 million for the same period in,2007., ...
Cached Biology Technology:Dorset County Hospital Enhances MRSA Surveillance Programme Through Rapid Patient Screening 2Dorset County Hospital Enhances MRSA Surveillance Programme Through Rapid Patient Screening 3DURECT Corporation Announces Third Quarter 2008 Financial Results 2DURECT Corporation Announces Third Quarter 2008 Financial Results 3DURECT Corporation Announces Third Quarter 2008 Financial Results 4DURECT Corporation Announces Third Quarter 2008 Financial Results 5DURECT Corporation Announces Third Quarter 2008 Financial Results 6DURECT Corporation Announces Third Quarter 2008 Financial Results 7DURECT Corporation Announces Third Quarter 2008 Financial Results 8
(Date:8/18/2014)... mass is made up of rangelands, which include grasslands ... alarming rate. Woody plants, such as trees and shrubs, ... loss of critical habitat and causing a drastic change ... specifically meat. , Researchers with Arizona State University,s ... this loss in both the United States and Argentina. ...
(Date:8/18/2014)... Denmark, and the University of Wisconsin-Madison, USA, have developed a ... both climate and land use change. This new metric was ... of combined rates of climate and land use for the ... have just been published in Nature Climate Change , ... biodiversity and ecosystem function due to the individual or combined ...
(Date:8/18/2014)... with the pygmy phenotype is probably a selective ... team of researchers, but all African pygmy phenotypes ... a more recent adaptation than previously thought., "I,m ... their very challenging environments," said George H. Perry, ... "Tropical rainforests are difficult for humans to live ...
Breaking Biology News(10 mins):Trees and shrubs invading critical grasslands, diminish cattle production 2Trees and shrubs invading critical grasslands, diminish cattle production 3The double threat of climate and land use change enhances risks to biodiversity 2Pygmy phenotype developed many times, adaptive to rainforest 2
... flowers have shifted away from using insects as pollinators and ... birds. In a study published in New Phytologist ... for the first time that Australian native flowers exclusively pollinated ... discriminated by those birds. Dr Adrian Dyer of Monash ...
... Institutet in Sweden have found an explanation for why ... the brains of people with schizophrenia or bipolar disease ... scientific periodical Molecular Psychiatry , identifies a gene ... discovery contributes to the further understanding of the link ...
... of birds, schools of fish, and groups of any other ... aquatic microorganisms, Andrea Giometto, a researcher EPFL and Eawag, showed ... according to the same mathematical expression, where the only unknown ... His article was published in in PNAS in ...
Cached Biology News:For birds, red means 'go' 2New gene variant may explain psychotic features in bipolar disorder 2One law to rule them all -- sizes within a species appear to follow a universal distribution 2
... Early Drug Development with Imaging Mass Spectrometry ... compound localization data in early drug development ... spectrometry service maps unlabeled ions ... you can localize drugs and metabolites prior ...
... The AccuSpot automates LC micro-fractionation, ... With the AccuSpot system, LC eluent ... onto target plates, in trace amounts. ... target plates for MALDI-TOF-MS measurements. When ...
... The JNK (c-Jun NH2-terminal kinase) ... three identified MAP kinase pathways in ... response to environmental stress, is associated ... itself, and is implicated in the ...
... knockdown of all human, mouse, and ... Genomewide, predesigned siRNAs for a ... , Ready-to-use, convenient matching solutions for ... Cost-effective RNAi and downstream analysis ...
Biology Products: