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

AINST the merger proposal".

VaxGen has reviewed the ISS report carefully, and finds it in general to be balanced and factually accurate. It is, however, very limited in scope and we believe does not fully consider certain unique aspects of the biotechnology sector. VaxGen therefore respectfully disagrees with ISS' recommendation on the merger proposal. Specifically, VaxGen has the following comments:

1. The report contains no analysis of the terms of the transaction.

Although the report acknowledges that VaxGen was willing to

terminate discussions with Raven over the economic terms, it is

disappointing that ISS made no effort to establish any kind of

valuation for Raven, notwithstanding ISS' statement that this is one

of the six criteria it uses to assess mergers.

2. It appears that the single factor that most heavily influenced ISS'

recommendation was the drop in VaxGen stock price following the

merger announcement. This drop was and remains very disappointing.

VaxGen believes it is largely attributable to a mismatch between the

expectations of certain stockholders related to asset value and

transaction type, and transactions that were actually available to

the Company. ISS acknowledges this point in its report: "While the

company's arguments regarding share price reaction seems plausible,

it is very difficult for ISS to ascertain the impact of a change in

shareholder base on the stock price." Based on the stock price

reaction, ISS notes that the market does not seem to be supportive

of the proposed merger. A further significant factor in explaining

the current stock price, in the opinion of the Company, is that the

vocal opposition of certain stockholders to the transaction has

deterred share purchases b
'/>"/>

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)... September 19, 2014 , The ... Society for Paediatric Endocrinology (ESPE) Meeting  Investment ... medical research in the field of growth  , ... Germany , today announced the first ... 2014. The awards were announced during a Satellite Symposium ...
(Date:9/18/2014)... 18, 2014 HealthTronics, Inc ... interventional radiology products and services, announced that a ... and cryoablation) versus external beam radiotherapy (EBRT) is ... American Urological Association (MAAUA) Annual Meeting in Baltimore, ... Effectiveness of Cryosurgery and External Beam Radiation as ...
(Date:9/18/2014)... A novel robotic system that can operate inside ... tested as part of a biomedical research partnership program ... aim of determining if the robot, in conjunction with ... more accurate, less costly, and less discomforting for the ... deliver prostate cancer therapies with greater precision. , Developed ...
(Date:9/18/2014)... 2014 Texas Governor Rick Perry, ... A&M Health Science Center CEO Brett Giroir, M.D., ... and Human Services (HHS), State of Texas and ... influenza vaccine manufacturing facility in Bryan, Texas, which ... the Texas A&M Biocorridor – a rapidly evolving ...
Breaking Biology Technology:EMD Serono Awards Grant for Growth Innovation (GGI) for the First Time 2EMD Serono Awards Grant for Growth Innovation (GGI) for the First Time 3HealthTronics Announces Data Comparing Cryotherapy Versus Radiation for Treating Prostate Cancer Poster Presented at the American Urological Association Regional Meeting 2Worcester Polytechnic Institute Participates in Clinical Trial for MRI-Compatible Robot Designed to Improve Accuracy of Prostate Cancer Biopsies 2Worcester Polytechnic Institute Participates in Clinical Trial for MRI-Compatible Robot Designed to Improve Accuracy of Prostate Cancer Biopsies 3Worcester Polytechnic Institute Participates in Clinical Trial for MRI-Compatible Robot Designed to Improve Accuracy of Prostate Cancer Biopsies 4Worcester Polytechnic Institute Participates in Clinical Trial for MRI-Compatible Robot Designed to Improve Accuracy of Prostate Cancer Biopsies 5Worcester Polytechnic Institute Participates in Clinical Trial for MRI-Compatible Robot Designed to Improve Accuracy of Prostate Cancer Biopsies 6Texas A&M Dedicates National Pandemic Influenza Vaccine Manufacturing Facility, on Track for 2016 Start-Up Phase 2Texas A&M Dedicates National Pandemic Influenza Vaccine Manufacturing Facility, on Track for 2016 Start-Up Phase 3Texas A&M Dedicates National Pandemic Influenza Vaccine Manufacturing Facility, on Track for 2016 Start-Up Phase 4
... Madison, Wis. - A kind of traveling road show ... one of the most controversial areas of scientific research - ... the skeptics are walking away a little less skeptical. , ... Technology Council , and Sue Carlson, director of operations for ...
... it was announced that First Data , one the ... by the huge private equity firm, Kohlberg Kravis Roberts ... reported : , ,The deal ranks among the 10 ... firms, aided by a flood of cheap debt and eager ...
Whitewater, Wis . - Sharon Ethanol , a subsidiary of <a...
Cached Biology Technology:Traveling stem cell show continues state tour 2Traveling stem cell show continues state tour 3Of private equity, research, and drug development 2Of private equity, research, and drug development 3Of private equity, research, and drug development 4Of private equity, research, and drug development 5
(Date:9/19/2014)... unveiled today by researchers from several Harvard University ... both experienced and aspiring researchers with the intellectual ... robots made from soft, flexible materials. , With ... and other advances in manufacturing technology, soft robotics ... principles drawn from conventional rigid robot design, but ...
(Date:9/19/2014)... SHELTON, Conn. , Sept. 19, 2014 Nxt-ID, Inc. ... a biometric authentication company focused on the growing m-commerce market, updates ... and world champion in the lightweight and light middleweight weight classes, ... Yesterday it was announced that Game of Thrones ... and Married with Children star Katey Sagal ...
(Date:9/18/2014)... Miranda, a small, icy moon of Uranus, is one ... the solar system. Despite its relatively small size, Miranda ... that resulted in the formation of at least three ... coronae. , These coronae are visible in Miranda,s ... km across. Arden corona, the largest, has ridges and ...
Breaking Biology News(10 mins):Soft robotics 'toolkit' features everything a robot-maker needs 2NXT-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 3Miranda: An icy moon deformed by tidal heating 2Miranda: An icy moon deformed by tidal heating 3Miranda: An icy moon deformed by tidal heating 4Miranda: An icy moon deformed by tidal heating 5Miranda: An icy moon deformed by tidal heating 6Miranda: An icy moon deformed by tidal heating 7
... insight into genetic basis of human diseaseHigh-throughput sequencing of ... which can give clues to the genetic underpinning of ... information from the individual's two chromosomes. Yet many ... individuals' DNA at the level of each chromosome -- ...
... Prehistoric big game hunters and not the last ice age ... sloths and other North American great mammals such as mammoths, ... , Determining whether the first arrival of humans or the ... last Ice Age was responsible for the demise of prehistoric ...
... The National Programme on Substance Abuse Deaths (np-SAD) based at ... London, has found that there has been a decline in ... to 1,372 in 2004, a drop of eight per cent. ... for the year 2004 reported by Coroners and Procurators Fiscal ...
Cached Biology News:California computer scientists double volume of data in NIH biotech repository 2California computer scientists double volume of data in NIH biotech repository 3California computer scientists double volume of data in NIH biotech repository 4Study shows big game hunters, not climate change, killed off sloths 2Study shows big game hunters, not climate change, killed off sloths 3Continued reduction in the number of drug-related deaths in the UK 2Continued reduction in the number of drug-related deaths in the UK 3