Navigation Links
VaxGen Further Restructures to Preserve Cash as It Pursues Strategic Initiatives
Date:9/13/2007

SOUTH SAN FRANCISCO, Calif., Sept. 13 /PRNewswire-FirstCall/ -- VaxGen Inc. (Pink Sheets: VXGN) today announced further cost-cutting measures consistent with its continuing commitment to align its cost structure with its pursuit of strategic initiatives.

(Logo: http://www.newscom.com/cgi-bin/prnh/19991112/VAXGENLOGO)

VaxGen is reducing its workforce from 61 to 27 employees, which the company expects will lower its monthly cash expenditures used in operating activities to $1.4 million. The company will incur a restructuring charge of approximately $1.1 million in connection with this action. The terminations include executive officer Lance Ignon, Vice President of Corporate Affairs.

This is VaxGen's third restructuring since the U.S. Department of Health and Human Services (HHS) cancelled the company's contract to provide a modern anthrax vaccine for civilian biodefense in December 2006.

"Throughout this year we have retained only those resources that management felt could build value for our shareholders, either because they enhanced our ability to complete a strategic transaction or they were required to meet essential business objectives," said James P. Panek, VaxGen's President and CEO. "Based on our understanding of the nature and structure of such potential transactions, we are now able to take this further restructuring action. We remain optimistic about completing a strategic transaction and are in various stages of discussions with a variety of companies."

VaxGen has retained key resources necessary to support its pursuit of strategic transactions, including key scientific personnel for technical due diligence. The company has also retained people associated with the company's financial reporting obligations to the Securities and Exchange Commission. "These are not easy decisions, especially when you are talking about letting go of many ta
'/>"/>

SOURCE VaxGen, Inc.
Copyright©2007 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2

Related biology technology :

1. A Further Step in Understanding Apoptosis Direct Detection of PARP Cleavage
2. OpGen recruits CEO to further gene-mapping business
3. Better collaboration urged to further Wisconsin biotech
4. Johnson Controls jumping further into hybrid-vehicle battery world
5. Preserve Samples for RNA Expression Microarrays RNAlater Around the World
6. RNAlater Preserves Bacterial Gene Expression Profiles for Array Analysis
7. Genomic DNA Preparation from RNAlater Preserved Tissues
8. QBIs PreserveX product passes initial test
9. Technology and mergers: Getting the strategic applications
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/17/2013)... 17, 2013 Oven Industries Inc. announces ... 5R6-900 temperature controller has many user-friendly benefits. Contained all ... the wall as a self-contained temperature control ... detail makes the device unique, as well as highly ... also be used universally, which allows the user to ...
(Date:5/17/2013)... TRIANGLE PARK, N.C., USA (PRWEB) May 17, 2013 ...     Green Globes Certified for sustainability , ... and insect pressures , Syngenta ... opening celebration today at the company’s RTP Innovation Center. ... Lab allows company researchers to simulate any agricultural climate ...
(Date:5/17/2013)... -- Insero Health, Inc., a company developing natural compounds to ... disorders, is today reporting top-line results from a Phase ... with drug-resistant epilepsy.  The data are being presented at ... by Dr. Steven Schachter , Harvard ... Board.  In this study, INS001 appeared safe and well ...
(Date:5/17/2013)... (PRWEB) May 17, 2013 IAC Industries wants ... a start up laboratory needing to set up and furnish ... to a larger facility within a year’s time. How does ... that the laboratory is temporary? What is efficient and cost-effective? ... modular workstations from IAC Industries. The planners at DisperSol determined ...
Breaking Biology Technology:New Temperature Control Products Announced by Oven Industries Inc. 2Syngenta Opens Unique $72 Million Advanced Crop Lab 2Syngenta Opens Unique $72 Million Advanced Crop Lab 3Insero Health Reports Positive Data on Phase I Trial of Novel Therapy for Drug-resistant Epilepsy 2New Downloadable Success Story: “How To Outfit a Dynamic Lab in Flux” 2
... Inc. (Nasdaq: NXXI ), the developer and ... and Diabetes Essentials(R) brands that help consumers manage blood ... chronic joint pain, today announced financial results for the ... 2009.For the quarter the Company reported total revenues of ...
... (Nasdaq: BJGP ) ("BMP Sunstone" or the "Company") ... Healthcare Services,Conference, which will be held at the Waldorf-Astoria in ... Management is currently scheduled to present at 3:30 pm ... same day. , A webcast of ...
... Genesis HealthCare, a provider of long-term care services ... today that Wendy LaBate has been promoted to Senior ... In her new position, LaBate will be responsible for ... Regional Vice Presidents of Operations and Administrators in six ...
Cached Biology Technology:Nutrition 21 Announces Second Consecutive Profitable Quarter in Q2 Fiscal 2009 2Nutrition 21 Announces Second Consecutive Profitable Quarter in Q2 Fiscal 2009 3Nutrition 21 Announces Second Consecutive Profitable Quarter in Q2 Fiscal 2009 4Nutrition 21 Announces Second Consecutive Profitable Quarter in Q2 Fiscal 2009 5Nutrition 21 Announces Second Consecutive Profitable Quarter in Q2 Fiscal 2009 6Nutrition 21 Announces Second Consecutive Profitable Quarter in Q2 Fiscal 2009 7BMP Sunstone to Present at UBS Global Healthcare Services Conference 2Genesis HealthCare Promotes Wendy LaBate To Senior Vice President of Operations for the Northeast Area 2
(Date:5/17/2013)... 2013) The AGA Research Foundation announced a new ... between the gut microbiota, one of today,s most exciting ... , The AGA Research Awards Panel selected Andrew T. ... Hospital and Harvard Medical School, Boston, as the 2013 ... will receive $25,000 of funding, commencing in July 2013, ...
(Date:5/17/2013)... 17, 2013, Shenzhen, China---- Why Tibetan antelope can ... Plateau? In a collaborative research published in ... and other institutes provide evidence that some genetic ... to harsh highland environments. The data in this ... genetic mechanisms and the biology of other ruminant ...
(Date:5/16/2013)... Bethesda, MD (May 17, 2013) Illustrating a ... the American Gastroenterological Association (AGA) Research Foundation ... Future Student Research Fellowship Award recipients. Supported by ... Kidney Diseases (NIDDK), this new award helps underrepresented ... digestive disease and nutrition research. , "By establishing ...
Breaking Biology News(10 mins):New gut microbiome research to explore red meat -- colorectal cancer pathway 2The genome sequence of Tibetan antelope sheds new light on high-altitude adaptation 2Underrepresented minority students receive fellowships in digestive disease and nutrition research 2
... disease like ALS - one that,s always fatal and that ... proof of principle in animal models is significant. This ... of stem cell-like cells into rat models of the disease ... ALS in particular - slowing the animals, neuron loss and ...
... Union for the Conservation of Nature,s (IUCN) World ... nations to protect the leatherback sea turtle and ... and creating marine protected areas along the Pacific ... government officials and environmental organizations from over 250 ...
... tomorrow at NJIT from 8:30 a.m. - 4 p.m. ... secure schools, health and transportation facilities, protect customs, borders ... Presenters will include NJ State Police, Customs ... and Preparedness, U.S. Coast Guard and NJ Department of ...
Cached Biology News:Swamping bad cells with good in ALS animal models helps sustain breathing 2Swamping bad cells with good in ALS animal models helps sustain breathing 3Scientists call for protected 'swimways' for the endangered leatherback sea turtle 2Scientists call for protected 'swimways' for the endangered leatherback sea turtle 3
... This CLS number is a ... easily match Cornings product number. ... please order under the old ... customer service for assistance. ...
...
ABgene® supplies a 94kDa ultra-pure recombinant thermostable DNA polymerase obtained by high level expression of the Taq DNA polymerase gene in E. coli....
... CE 4100 high pressure dual piston pump and ... flexibility and utra low drift. The ... array detection and provides superior stability. ... development and for monitoring to the highest of ...
Biology Products: