Navigation Links
VaxGen Issues Rebuttal to MedCap Letter
Date:3/25/2008

he ISS estimated liquidation outcome is not supportive of MedCap's position and, consequently, not referenced by MedCap.

MedCap's selective use of these third party sources is especially disturbing because they are based on limited distribution reports, usually only available to professional investors. Hence, MedCap's selective use of such information could easily mislead many or most of VaxGen's stockholders who do not have access to the full text of those reports. The ISS recommendations and their rationale are discussed in the addendum to this letter.

VaxGen believes these recent communications from MedCap show a flagrant disregard for accuracy. We have reason to believe that MedCap has made even more inaccurate and misleading claims in its conversations with other stockholders and third parties. We can only conclude that MedCap cares not about the truth; but rather about defeating the proposed merger at any cost.

In summary, MedCap and its principals have apparently determined to sway the VaxGen-Raven merger vote any way they can. VaxGen believes this includes the use of flawed arguments as well as false and misleading information. As the CEO of VaxGen, I urge stockholders to examine the facts objectively. If you do so, I continue to believe the correct outcome is to vote "Yes" in favor of the merger.

Sincerely,

James P. Panek

President and CEO

VaxGen, Inc.

Detailed Discussion Regarding Financial and Liquidation Claims; ISS Recommendations

MedCap's Financial Analysis is both Incorrect and Shallow.

MedCap represents that VaxGen spent $56.1 million in 2007, or $40.1 million, before impairments or restructuring. In fact, neither of these figures (which are drawn from the profit and loss account) are accurate representations of the Company's cash burn in 2007. The best measure of this is to be found in the Consolidated Statements of Cash Flows on page 39 of the Company's 2007 Annual Report
'/>"/>

SOURCE VaxGen Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11

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. VaxGen Addresses MPM Claims in Letter to Stockholders
7. VaxGen Common Stock Expected to Qualify for Quotation on OTC Bulletin Board
8. VaxGen Stockholders Overwhelmingly Approve Reverse Split Proposal
9. VaxGen and Raven Announce Form S4 Registration Statement Declared Effective
10. VaxGen to Present at the 10th Annual BIO CEO and Investor Conference
11. VaxGen Reports Financial Update
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/18/2014)... -- MEI Pharma, Inc. (Nasdaq: MEIP ), an oncology ... cancer, announced today that Daniel P. Gold , Ph.D., ... NewsMakers in the Biotech Industry conference on Friday, September ... Broadway Hotel & Conference Center in New York ... accessed at www.meipharma.com . A replay will be available ...
(Date:9/18/2014)... 18 septembre 2014 Mapi, société créée ... 1974, a été depuis 40 ans l,un ... cliniques traditionnelles par des évaluations recentrées sur ... les impacts économiques des traitements. ... A cours d,une récente conférence téléphonique ...
(Date:9/18/2014)... SeqLL Inc., the owner of ... today the closing of a $1M Series-A funding ... Diagnostic Technologies, will increase the power of tSMS™ ... in March 2013 by Daniel Jones, a former ... BioSciences, SeqLL has continued to offer Helicos’ sequencing ...
(Date:9/18/2014)... sweeteners, promoted as aids to weight loss and diabetes ... and metabolic disease; and they do it in a ... the gut microbiota the substantial population of bacteria ... experiments in mice and humans, were published today in ... Elinav of the Weizmann Institute,s Immunology Department, who led ...
Breaking Biology Technology:MEI Pharma To Present At BioCentury's NewsMakers Conference 2MEI Pharma To Present At BioCentury's NewsMakers Conference 31974 - 2014 - Mapi fête ses 40 ans 2SeqLL Closes Series-A Funding Round for Expansion of Single Molecule Sequencing 2Gut bacteria, artificial sweeteners and glucose intolerance 2Gut bacteria, artificial sweeteners and glucose intolerance 3
... Sweden, July 14 PharmaSurgics AB.,successfully completes Phase ... is safe and well tolerated. Initially developed to ... combines,the pharmacological effect of PXL01 with the physical ... to be the first anti-adhesion drug on the,market. ...
... LA JOLLA, Calif., July 14 Synthetic Genomics ... solutions to address a variety of global challenges including ... and development agreement with ExxonMobil Research and Engineering Company ... algae. , , ...
... , ... today announced clearance for marketing by the United States Food and Drug Administration (K083292) ... , ... 14, 2009 -- EMcision Ltd. today announced clearance for marketing by the United States ...
Cached Biology Technology:Novel Product for the Prevention of Post-Surgical Adhesion Formation Completes Phase I Clinical Study 2Synthetic Genomics Inc. and ExxonMobil Research and Engineering Company Sign Exclusive, Multi-Year Agreement to Develop Next Generation Biofuels Using Photosynthetic Algae 2Synthetic Genomics Inc. and ExxonMobil Research and Engineering Company Sign Exclusive, Multi-Year Agreement to Develop Next Generation Biofuels Using Photosynthetic Algae 3EMcision Announces 510(k) Clearance of the Habib EndoHPB, its Novel Bipolar RF Device for the Palliation of Biliary and Pancreatic Tumours 2
(Date:9/17/2014)... four-year project, delivering its first release in 2004. After ... several EC projects, as a part of the EC-FP7 ... to increase the general awareness of the work done ... of the Fauna Europaea results, the Biodiversity ... tools to prepare data papers for all 56 major ...
(Date:9/17/2014)... developed, very cleverly, some lessons on how to create ... Joseph Shaw, director of the Optical Technology Center at ... at the nanoscale, we,ll discover them." , Some of ... during a conference called "The Nature of Light: Light ... the University of Arizona College of Optical Sciences. The ...
(Date:9/17/2014)... New research from the Copenhagen Centre for Social Evolution ... evolutionary theory that birth weight and -length can partially ... disorders such as autism and schizophrenia later in life. ... births, and subsequent hospital diagnoses for up to 30 ... factors. The study is published today in the ...
Breaking Biology News(10 mins):Contributions on Fauna Europaea: Data papers as innovative model on expert involvement 2Nature's designs inspire research into new light-based technologies 2Nature's designs inspire research into new light-based technologies 3Size at birth affects risk of adolescent mental health disorders 2Size at birth affects risk of adolescent mental health disorders 3
... -- Traditionally addressed through hand-weeding and/or herbicide application, controlling ... production. Increased labor costs have made hand-weeding prohibitive as ... may be effective and less expensive, non-target herbicide loss ... the environment. To address the economic and environmental impact ...
... -- Associate Professor Paul Blowers of the University of ... 2011 Arizona Professor of the Year, recognized for commitment ... Advancement of Teaching and the Council for Advancement and ... announced the award on Nov. 17 in Washington, D.C. ...
... CAMBRIDGE, Mass. -- Significant progress has been ... psychiatric disease. Recent studies have identified common genetic ... significant risk. One example of a rare cause ... (DISC1) gene, first identified in a large Scottish ...
Cached Biology News:Biodegradable mulches successfully control weeds in container-grown arborvitae 2Arizona Engineering associate professor earns national recognition 2Picower: Schizophrenia gene associated with psychiatric disorders and brain development 2Picower: Schizophrenia gene associated with psychiatric disorders and brain development 3
... The MEGAscript RNAi Kit is ... large mass amounts of ready-to-use ... non-mammalian systems. The MEGAscript RNAi ... patented high-yield transcription technol-ogy and ...
UGT1A6 (D-20)...
... With its patented technology, the Lone Wolf ... any Normally Open proportional valve available on ... operation, provides repeatable high-speed performance, and ensures ... , Enhances system control and patient ...
Normal Hamster Serum...
Biology Products: