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

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:10/19/2014)... The Asian Automatic patient billing report defines ... forecast of revenue. The Automatic patient billing market in ... by 2018, at a developing CAGR of 7.2% from ... the Asian Automatic patient billing market, to get an ... a glimpse of the segmentation of this market in ...
(Date:10/19/2014)... According to market research report ... Controllers; Wireless gateways)]- Global Advancements, Forecasts and Analysis ... Outdoor Wi-Fi market with analysis and forecasting of ... identifies the drivers and the restrains for this ... and challenges. , Browse 65 market data tables ...
(Date:10/18/2014)... The Asia-Pacific hardware encryption display market report ... analysis and forecast of revenue. This market was valued ... $51,362.6 million by 2018, at a CAGR of 58.4% ... of the Asia-Pacific hardware encryption market report, to get ... provides a glimpse of the segmentation of the market, ...
(Date:10/18/2014)... The report " Cloud Analytics Market [Cloud ... Machine; Video; Predictive Analytics: Global Advancements, Delivery Models, ... (2013 - 2018) ", defines and segments the ... with an in-depth analysis and forecasting of market ... this market, various restraints, and opportunities impacting it ...
Breaking Biology Technology:The Asian Automatic patient billing market is estimated to grow to around $463.9 million by 2018 - New Report by MicroMarket Monitor 2The Asian Automatic patient billing market is estimated to grow to around $463.9 million by 2018 - New Report by MicroMarket Monitor 3Outdoor Wi-Fi Market (by Access Points, WLAN Controllers, Wireless gateways) Expected to Cross $37.2 Billion by 2018 - New Report by MarketsandMarkets 2Outdoor Wi-Fi Market (by Access Points, WLAN Controllers, Wireless gateways) Expected to Cross $37.2 Billion by 2018 - New Report by MarketsandMarkets 3Outdoor Wi-Fi Market (by Access Points, WLAN Controllers, Wireless gateways) Expected to Cross $37.2 Billion by 2018 - New Report by MarketsandMarkets 4The Asia-Pacific hardware encryption display market is expected to reach $51,362.6 million by 2018 - New Report by MicroMarket Monitor 2The Asia-Pacific hardware encryption display market is expected to reach $51,362.6 million by 2018 - New Report by MicroMarket Monitor 3Cloud Analytics Market (by Cloud Business Intelligence & Predictive Analytics) Expected to Cross $16.52 Billion by 2018 - New Report by MarketsandMarkets 2Cloud Analytics Market (by Cloud Business Intelligence & Predictive Analytics) Expected to Cross $16.52 Billion by 2018 - New Report by MarketsandMarkets 3Cloud Analytics Market (by Cloud Business Intelligence & Predictive Analytics) Expected to Cross $16.52 Billion by 2018 - New Report by MarketsandMarkets 4Cloud Analytics Market (by Cloud Business Intelligence & Predictive Analytics) Expected to Cross $16.52 Billion by 2018 - New Report by MarketsandMarkets 5
... ... HPCwire,s Readers, Choice Award for Best Application of Green Computing. The award was ... ongoing in Portland, Ore. , ... Portland, OR (Vocus) Nov. 17, 2009 --- The U.S. Department of Energy,s ...
... Pharma guarantees to purchase 50,000 KINLYTIC vials over next ... Biosystems Inc. (MBX:TSX), a biotech company focused on virology ... agreement with Riso Pharma that guarantees purchases of not ... years. KINLYTIC (Urokinase) is Microbix, thrombolytic agent for treating ...
... , ROCKVILLE, Md., Nov. 17 Neuralstem, Inc. (NYSE Amex: ... the third quarter ended September 30, 2009. , (Logo: ... of 2009, the Company reported a net loss of $5,096,983, or ... $0.10 per share, for the comparable 2008 period. The increase was ...
Cached Biology Technology:Argonne Recognized for "Green Computing" in 2009 HPCwire Readers' and Editors' Choice Awards 2Argonne Recognized for "Green Computing" in 2009 HPCwire Readers' and Editors' Choice Awards 3Argonne Recognized for "Green Computing" in 2009 HPCwire Readers' and Editors' Choice Awards 4Microbix Signs Marketing Agreement For Kinlytic(R)(Urokinase) In Growing Middle East Region 2Microbix Signs Marketing Agreement For Kinlytic(R)(Urokinase) In Growing Middle East Region 3Neuralstem, Inc. Reports Third Quarter Financial Results and Provides Business Update 2Neuralstem, Inc. Reports Third Quarter Financial Results and Provides Business Update 3Neuralstem, Inc. Reports Third Quarter Financial Results and Provides Business Update 4Neuralstem, Inc. Reports Third Quarter Financial Results and Provides Business Update 5Neuralstem, Inc. Reports Third Quarter Financial Results and Provides Business Update 6Neuralstem, Inc. Reports Third Quarter Financial Results and Provides Business Update 7
(Date:10/14/2014)... ATHENS, Ohio (Oct. 14, 2014)—It,s been millions of years ... but a team led by Ohio University scientists is ... to model airflow through dinosaur snouts. The research has ... not only breathe but to enhance the sense of ... pretty ,nosy, animals," said Ohio University doctoral student Jason ...
(Date:10/14/2014)... 14, 2014 – High doses of fish oil supplements, rich ... common type of irregular heartbeat in which the heart can ... of the AFFORD trial led by the Montreal Heart Institute ... of Cardiology on October 7th. , For the trial, ... were randomly assigned to 4 grams of fish oil a ...
(Date:10/14/2014)... between 10 and 20 years to develop, providing ... intervention if detected early, which may be possible ... clinical researchers. , Dr Jeremy Humphris and ... Medical Research, analysed medical histories and tumour samples ... patients, operated on between 1994 and 20122. Roughly ...
Breaking Biology News(10 mins):Dinosaur breathing study shows that noses enhanced smelling and cooled brain 2Dinosaur breathing study shows that noses enhanced smelling and cooled brain 3Early detection window when pancreatic cancer is in the family 2
... a long-distance race may do serious harm rather than ... much, according to a cardiologist at UT Southwestern Medical ... too much water during a race could put themselves ... a loss in the body's sodium content that can ...
... announced today the launch of the new GeneChip(R) ... with PreAnalytiX -- a joint venture between QIAGEN ... BD (Becton, Dickinson and Company). The new kits ... use with Affymetrix GeneChip technology and improve gene ...
... Earth history some 251 million years ago was preceded by ... by a delayed recovery that lasted for millions of years. ... a sharp decline in atmospheric oxygen levels was likely a ... very slow recovery. , Earth's land at the time was ...
Cached Biology News:Too much water may be as dangerous as too little during long-distance athletic events 2Affymetrix Launches New Globin-Reduction Kits and Protocol Developed with PreAnalytiX 2Affymetrix Launches New Globin-Reduction Kits and Protocol Developed with PreAnalytiX 3Scientists reveal the shape of a protein that helps retroviruses break into cells 2Scientists reveal the shape of a protein that helps retroviruses break into cells 3
Applications include ELISA, immunochemistry, and Western blotting. Working Concentrations: ELISA: 0.005-0.05 U/ml, immunohisto/cytochemistry: 0.25-0.5 U/ml, Western blot: 0.1-0.25 U/ml....
...
Recombinant Ovine IFN Tau. Active on sheep, cow, human and mouse cells. Activity: 5.7 x 10 7 u/mg...
... Wellwash AC is the easiest to ... is provided with liquid level sensors ... The integrated orbital shaker and automatic ... washing performance. The big bottle model ...
Biology Products: