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

on Form 10-K, filed with the Securities and Exchange Commission on March 18, 2008. Net cash used in operating activities in 2007 was $25.2 million, compared with $70.5 million in 2006. Given the disparity between the two sets of numbers laid out above, it is clear that MedCap's flawed analysis could easily mislead stockholders.

MedCap also suggests that the burn rate for 2007 might still be considered substantial for a company that "had supposedly largely closed down its operations." We believe that the publicly available information easily explains the 2007 cash burn rate and highlights certain expense anomalies specific to that period:

1. VaxGen incurred $5.4 million in restructuring costs in 2007, versus

zero in 2006, which represents more that 21% of the total net cash

used in operating activities in 2007

2. VaxGen incurred $3.3 million in real estate lease costs in 2007.

Lease costs are only a portion of the Company's total real estate

expenses, none of which can easily be reduced in the absence of

another tenant willing to assume them. There is currently a surplus

of biotech space in South San Francisco. Nonetheless, VaxGen has

successfully restructured part of its lease obligations with the

result that our lease obligation for 2008 is now $2.2 million. A

difficult lease market notwithstanding, VaxGen continues to seek

tenants for some or all of its remaining space in conjunction with

efforts to sell the Company's manufacturing facility.

3. VaxGen incurred $2.7 million in audit expenses in 2007, as the

Company completed the process of filing the backlog of periodic

reports with the SEC. Significant expenses were also incurred in

professional fees related to Sarbanes-Oxley compliance, also

successfully achieved, and the strategic transact
'/>"/>

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:9/19/2014)... YORK, September 18, 2014 Scientists at NYU Langone ... dramatically the efficiency of the process for turning adult ... well-known compounds, including vitamin C. Using the new technique ... cells obtained from adult skin cells by more than ... technique is efficient and reliable, and thus should generally ...
(Date:9/19/2014)... Florida , September 19, 2014 ... medical technology, development of emerging drug systems and advanced ... Benton, Dickinson and Company (NYSE: BDX ), ... Regado Biosciences Inc. (NASDAQ: RGDO ), Sangamo ... Inc. (NASDAQ: HOLX) Pressure BioSciences, Inc. (OTCQB: ...
(Date:9/19/2014)... Charlotte, NC (PRWEB) September 19, 2014 ... Certified Biobased Product Label for its Organic Cotton ... the product’s amount of renewable biobased ingredients meets or ... or intermediate materials composed in whole or in significant ... “This logo/label will allow our Organic cotton to be ...
(Date:9/19/2014)... The new , Healthcare and Life Sciences Review ... PharmaBoardroom.com for free download , looks beyond ... economy in 2009, and the austerity measures that followed, to ... times of trouble. "Despite the crisis, ... and the general conditions to invest are favorable to the ...
Breaking Biology Technology:NYU Langone scientists report reliable and highly efficient method for making stem cells 2NYU Langone scientists report reliable and highly efficient method for making stem cells 3Medical Instrumentation Automation Advances for Biological Sample Preparation - Company Expects Q4 Revenue Impact from Newest Instrument Systems 2Medical Instrumentation Automation Advances for Biological Sample Preparation - Company Expects Q4 Revenue Impact from Newest Instrument Systems 3Medical Instrumentation Automation Advances for Biological Sample Preparation - Company Expects Q4 Revenue Impact from Newest Instrument Systems 4Medical Instrumentation Automation Advances for Biological Sample Preparation - Company Expects Q4 Revenue Impact from Newest Instrument Systems 5Medical Instrumentation Automation Advances for Biological Sample Preparation - Company Expects Q4 Revenue Impact from Newest Instrument Systems 6Medical Instrumentation Automation Advances for Biological Sample Preparation - Company Expects Q4 Revenue Impact from Newest Instrument Systems 7Barnhardt Manufacturing Company Earns USDA Certified Biobased Product Certification and Label for Organic Cotton 2PharmaBoardroom Releases New Spain Pharmaceuticals Report 2PharmaBoardroom Releases New Spain Pharmaceuticals Report 3
... ANGELES, Oct. 11, 2011 De Novo Software™, a ... solutions, and Nexcelom Bioscience, a leading supplier of cell ... announced today a licensing agreement enabling Nexcelom to distribute ...   Under the terms of the agreement, ...
... October 11, 2011 Edinburgh-based company 6S Ltd have ... service to store and retrieve digital media by replicating the simple ... patented technology is based on episodic memory - the memory which ... process of semantic tagging we are used to applying to digital ...
... inVentiv Health company, and a leading provider of physician ... today that it has changed its name to inVentiv ... organization – unveiled today at the Self-Insurance Institute of ... the company,s expanded solutions, revitalized mission and a commitment ...
Cached Biology Technology:Nexcelom Bioscience to Distribute FCS Express 4 Cytometry Software with Cellometer Vision CBA Instruments 2Digital Media Storage and Retrieval That Replicates the Functions of the Human Brain 2Digital Media Storage and Retrieval That Replicates the Functions of the Human Brain 3AWAC Becomes inVentiv Medical Management™ 2
(Date:9/19/2014)... -- Nxt-ID, Inc. (Nasdaq: NXTD and NXTDW) ("Nxt-ID" ... m-commerce market, updates the "Wocket in Your Pocket" celebrity ad campaign, ... middleweight weight classes, Vinny Pazienza (PAZ). ... of Thrones actor Ciaran Hinds and Sons ... Katey Sagal have been cast in Bleed for This ...
(Date:9/18/2014)... PULLMAN, Wash. - Washington State University researchers have developed ... sediment to power waste cleanup in rural areas. ... lead to an inexpensive and quick way to clean ... treatment plants while reducing pollution. , Professor Haluk ... College of Engineering and Architecture discuss the system in ...
(Date:9/18/2014)... BUFFALO, N.Y. A sleep-promoting circuit located deep in ... deep sleep. Discovered by researchers at Harvard School of ... and Biomedical Sciences, this is only the second "sleep ... to be both necessary and sufficient to produce deep ... Neuroscience , the study demonstrates that fully half of ...
Breaking Biology News(10 mins):NXT-ID's Vinny Paz Celebrity Ad Wocket Update: Katey Sagal and Ciaran Hinds Attached to His Upcoming Movie 2NXT-ID's Vinny Paz Celebrity Ad Wocket Update: Katey Sagal and Ciaran Hinds Attached to His Upcoming Movie 3Researchers develop unique waste cleanup for rural areas 2No sedative necessary: Scientists discover new 'sleep node' in the brain 2
... of aging in the nematode model organism C. elegans has provided ... whether genes involved in aging in the worm have a similar ... colleagues of McGill University (Canada) report that inactivation of the gene ... in increased cellular fitness and prolonged lifespan in mice. ...
... below your eyes. If you don't snooze, you lose a ... can't regenerate as quickly, the mind can't learn new words, ... gain things: a bad mood and increased risk for diabetes, ... sleep deprivation can be so serious that some sleep scientists ...
... offers additional insight into the evolutionary process by ... including New York University Biology Professor Richard Borowsky, ... that albinism in both populations was linked to ... common form of albinism in humans. They observed ...
Cached Biology News:Evolutionary conservation of a mechanism of longevity from worms to mammals 2Clocking in Pillow Time without the Pillow 2Clocking in Pillow Time without the Pillow 3Genetic analysis of cavefish reveals more about evolution 2
Immunogen: Tissue / cell preparation. (Murine EHS laminin preparation) Storage: -20 C, Avoid Freeze/Thaw Cycles...
p-Raf-1 (Ser 338/Tyr 341)-R...
Rabbit polyclonal to Syntrophin alpha 1 ( Abpromise for all tested applications). entrezGeneID: 6640 SwissProtID: Q13424...
... between P-selectin and P-selectin glycoprotein ligand-1 (PSGL-1) ... the lumenal surface of endothelial cells at ... primary role of PSGL-1 in mediating the ... well documented.MAB4092 completely blocks recognition of PSGL-1 ...
Biology Products: