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:7/30/2015)... July 30, 2015   Senomyx , Inc. (NASDAQ: ... science technologies to discover, develop, and commercialize novel flavor ... today reported financial results for the second quarter 2015. ... 2015, we remain on track to achieve our commercial ... Executive Officer of the Company. "Since our last quarterly ...
(Date:7/30/2015)... (PRWEB) , ... July 30, 2015 , ... As part of its 2015 growth plan ... and technical service business units, Whitehouse Laboratories is pleased to announce that ... adjacent to the Container Center of Excellence and will be strictly dedicated to basic USP ...
(Date:7/29/2015)... July 29, 2015 US-Australian drug discovery company, ... confirmed it is committed to progressing its ground-breaking technology ... practicable and to ensure the Company delivers the best ... Iain Ross , said the Company currently had ... pre-clinical programs, discovery programs and academic partnerships and initiatives, ...
(Date:7/29/2015)... ... 29, 2015 , ... G-CON Manufacturing, Inc., the leading prefabricated ... generation cell therapy POD® design. The 2nd generation portfolio not only delivers design ... POD® design. , “G-CON first offered our miniPOD CT product line to ...
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 9Whitehouse Labs Formally Announces Plans to Open a Microbiological Laboratory 2Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 2Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 3Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 4Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 5Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 6Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 7Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 8Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 9Newly Appointed Acting CEO Outlines Immediate Plans for Novogen 10G-CON Manufacturing Launches Their 2nd Generation Cell Therapy Cleanroom POD® 2G-CON Manufacturing Launches Their 2nd Generation Cell Therapy Cleanroom POD® 3
... not revolution , ,Your business card reads project ... Youve been to training, regularly participate in seminars and ... methodology on your desk is almost worn out; yellow ... recite the cost control section by heart! Youd rather ...
... surveillance, has emerged as a new leading security solution ... a more holistic and efficient approach to security. It ... converged networks. , ,Most security imperatives from an IT ... and a host of similar components of network security. ...
... the top prize at the first-annual Governors Business ... Entrepreneurs Conference Wednesday evening in Milwaukee, Middleton-based BioSystem Development ... place, or $55,000. , ,Other category winners, each receiving ... quality of the business plans was very high, said ...
Cached Biology Technology:Part 5 Project Performance Get on the path to continuous improvement 2Part 5 Project Performance Get on the path to continuous improvement 3Part 5 Project Performance Get on the path to continuous improvement 4IP Surveillance - Another Piece of the Converged Network 2IP Surveillance - Another Piece of the Converged Network 3Governors business-plan contest has a surprise ending 2Governors business-plan contest has a surprise ending 3Governors business-plan contest has a surprise ending 4Governors business-plan contest has a surprise ending 5Governors business-plan contest has a surprise ending 6
(Date:7/21/2015)... , July 21, 2015 Today, ZTE announced ... received as well as expected revenues in 2015 that relate to ... communicated revenue guidance of approximately 2,200 MSEK for 2015. ... a leading smartphone manufacturer in China and ... 02 5 for Axon , ...
(Date:7/13/2015)... 2015 Synaptics Inc. (NASDAQ: SYNA ... today announced sampling of ClearPad ® 4300, ... (TDDI) product targeting smartphones and tablets. This new ... , best-in-class touch controller IP and systems ... in the company,s Japan Design Center. TDDI enables ...
(Date:7/9/2015)... , July 9, 2015  Unchained Labs just ... its acquisition of Avid Nano. Avid Nano designs, ... (DLS) systems.    Also today, Unchained ... and easiest to use protein sizing system. The ... a protein,s hydrodynamic size, size distribution, aggregation population ...
Breaking Biology News(10 mins):FPC's Touch Fingerprint Sensor FPC1025 in ZTE's Smartphone Axon 2Synaptics Announces Sampling of Second Generation TDDI Solutions 2Synaptics Announces Sampling of Second Generation TDDI Solutions 3Unchained Labs just can't get enough, acquires Avid Nano, rocks out the new pUNk! 2
... An alliance of top researchers at the University of ... Institute (SBI), advancing efforts to engineer cells and biological ... health and medicine, energy, the environment, new materials, and ... new institute aiming to create "an industrial revolution ...
... special mechanisms that delay ageing provide exceptionally good health. ... colony-forming ascidians (or sea squirts) can activate the enzyme ... also in humans who attain an advanced age. , ... individual,s body is passes on to the next generations, ...
... oximetry training video produced by Rafael Ortega, MD, the ... at Boston Medical Center (BMC) and professor of anesthesiology ... colleagues is featured in this week,s New England ... which is the fifth BMC-produced video to appear in ...
Cached Biology News:UC Berkeley launches Synthetic Biology Institute to advance research in biological engineering 2UC Berkeley launches Synthetic Biology Institute to advance research in biological engineering 3Marine organisms with eternal life can solve the riddle of aging 2Pulse oximetry training video by BMC anesthesiologist published in NEJM 2
...
Replacement Parts for Electrophoresis Apparatus...
... Specificity: This antibody recognizes ... not cross-react with other related ... antibody with murine IRF7 protein ... analysis of the 293T cells ...
Sprague-Dawley rats, 7-8 weeks old, mixed gender; tissue is collected fresh, frozen on dry ice within minutes of sacrifice and stored at -20C; individual tissue weight approx. 0.05 gram....
Biology Products: