anyone know why this one is moving up?
post #641 of 655
1/12/07 at 6:01pm
Originally Posted by mmhollis
Was anyone in on the conference call? I see the stock is slipping but innovation looks decent. Its close enough to a 52 week low, but it seems to be dropping. I'm considering getting in....
Originally Posted by factorypower
Wow... I cannot believe that no one is chatting about this today... It is a rough day across the board in the market and this thing is flying high today... the only new news out to cause this is that Rodman & Renshaw have initiated coverage of VSGN... (is Rodman & Renshaw more important than I realize, or are they just another group??)
So far today over 7 Million shares traded versus 3.7 average day!
This thing will really FLY when they announce their EU partner soon!
Everyone is missing the boat with this stock... nobody knows that they have EU approval (and about their looming announcement of an EU partner for production and marketing) unless they listened to the conference call...
Originally Posted by pjpoker
Anyone still in on this? Im considering selling and cutting my losses...
|Vasogen Announces Effective Date for Reverse Stock Split
Monday April 16, 6:00 am ET
TORONTO, April 16 /PRNewswire-FirstCall/ - Vasogen Inc. (NASDAQ:VSGN - News; TSX:VAS - News), a biotechnology Company focused on the research and commercial development of technologies targeting the chronic inflammation underlying cardiovascular and neurological disease, today announced the implementation of a one-for-ten reverse split (consolidation) of the Company's common stock that was approved by Vasogen's shareholders at its annual shareholder meeting held on April 3, 2007.
Vasogen's common stock will begin trading on a split-adjusted basis on the NASDAQ and TSX when the market opens for trading on April 17, 2007. For a period of 20 trading days beginning April 17, 2007, Vasogen's common stock will trade on a post-split basis on the NASDAQ under the trading symbol "VSGND" as an interim symbol to denote its new status. After this 20 trading day period, Vasogen's common stock will resume trading on the NASDAQ under the symbol "VSGN." The trading symbol for Vasogen on the TSX will remain unchanged.
The reverse split is intended to broaden Vasogen's institutional investor base and help the Company regain compliance with NASDAQ's $1.00 minimum bid price listing requirement by increasing the share price as a result of decreasing the number of shares, warrants, and options outstanding. Additional information regarding the reverse split can be found in the Company's 2007 Management Proxy Circular available at www.vasogen.com/sec/ar. The reverse split will not affect any shareholders' percentage ownership in the Company, except to the extent that the Company will not issue fractional shares of common stock following the reverse split.
Vasogen had 174,739,990 shares of common stock issued and outstanding at the end of trading on April 13, 2007. When the market opens on April 17, 2007, there will be approximately 17,473,999 shares issued and outstanding, subject to rounding down for fractional shares and no warrants or options being exercised in the interim.
Vasogen is a biotechnology company engaged in the research and commercial development of therapies designed to target the destructive inflammatory process associated with the development and progression of cardiovascular and neurodegenerative disorders. The Company's lead product, the Celacade(TM) technology, is designed to activate the immune response to apoptosis - an important physiological process that regulates inflammation. Celacade is in late-stage clinical development for the treatment of chronic heart failure and has received European regulatory approval under the CE Mark for this indication. Vasogen is also developing a new class of drugs for the treatment of certain neuro-inflammatory disorders and is preparing to advance VP025, the lead drug candidate from this new class, into phase II development.