Air Purifiers San Bernardino
BioSante (NASDAQ: BPAX) will pay 0.1615 of its own commonj shares for each share of CellGenesyds (NASDAQ: CEGE). This deal should close later this year, likelgy in the late third or earlyfourtyh quarter. In the first quarter, Cell Genesyes lost $8.7 million, or 10 cents a share, narrowefd from a loss in the same periord last yearof $22.6 million, or 29 cents a The company had been exploring strategic alternatives, includint merger with or acquisition by another company, additiona l restructuring, repurchase of additional amounts of convertible notes or allocatio n of its remaining resources toward othere biopharmaceutical product areas.
Cell Genesys had hired to help it figures outa strategy. The company alreadt cut about 95 percent of its from 290 personsto 16, by eliminating all researcyh and development, manufacturing, clinical and regulatoryh activities. BioSante, based in Lincolnshire, Ill., focuses on drugd for sexual health.
No comments:
Post a Comment