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- Net Cash Stock: OrthoLogic Corporation
- Greenbackd submits: OrthoLogic Corporation CAPS is a little unusual for us. While it trades below its net cash value and Biotechnology Value Fund BVF has disclosed a 13.42% holding, BVF’s holding is passive. At CAPS’s $0.60 close Friday it had a market capitalization of $24.4M. We estimate the net...
- External links 2009-02-28
- VaxGen Still Looking to Return Value to Its Stockholders
- Greenbackd submits: VaxGen Inc VXGN is a bread-and-butter play for us. The company is trading at a substantial discount to its net cash position, has ended its cash-burning product development activities and is now “seeking to maximize the value of its remaining assets through a strategic transaction or series...
- External links 2009-03-26
- NTII on the Block - and Trading at Discount
- Greenbackd submits: Neurobiological Technologies Inc (Nasdaq: NTII) has engaged a financial adviser to explore a sale of the company or its major assets to determine “if there is a transaction more beneficial to our shareholders than a liquidation,” according to its CEO, William Fletcher. We’ve been following...
- External links 2009-03-31
- Facet Biotech: An Intriguing Activist Play
- Greenbackd submits: Facet Biotech Corporation (NASDAQ: FACT) is a new category of investment for us: special situations. It’s an activist play with a catalyst in the form of Dr. Roderick Wong’s nomination for the annual meeting of an alternative slate of directors, including well-known activist investor Robert. L....
- External links 2009-04-22
- Neurobiological Tech Provides an Exit Opportunity
- Greenbackd submits: Neurobiological Technologies Inc NTII has filed its 10Q for the period ended March 31, 2009. After reviewing the 10Q, we have reduced our estimate of NTII’s liquidation value to $19.6M or $0.73 per share. NTII closed on Friday at $0.72, which is approximately our estimate of its...
- External links 2009-05-11
- CuraGen Presents an Opportune Time to Exit
- Greenbackd submits: CuraGen Corporation (NASDAQ:CRGN) has filed its 10Q for the period ended March 31, 2009. CRGN’s stock has risen strongly over the last few months, and is now trading at $1.02, giving it a market capitalization slightly higher than our estimate of its liquidation value. Accordingly, we’re going...
- External links 2009-05-18
- Avigen Could Yield Considerably More than Its Net Cash Value
- Greenbackd submits: Avigen Inc AVGN has been granted a United States Patent for the treatment of neuropathic pain with its AV411 ibudilast compound. We started following AVGN in December last year see archived posts here because it was a net cash stock (i.e. it was trading at...
- External links 2009-05-22
- Northstar Neuroscience Shareholders Approve Liquidation
- Greenbackd submits: The shareholders of Northstar Neuroscience Inc (NASDAQ:NSTR) have approved the complete liquidation of NSTR at a special meeting of shareholders. We started following NSTR because it was a net cash stock that has announced that it plans to liquidate. NSTR closed Friday at $1.97, giving...
- External links 2009-05-26
- VaxGen: Still a Good Prospect
- Greenbackd submits: VaxGen Inc (VXGN.OB) has released its quarterly report for the period ended June 30, 2009. We’ve been following VXGN see our post archive here because it is trading at a substantial discount to its net cash position, has ended its cash-burning product development activities and...
- External links 2009-08-04
- Capstone Therapeutics: Q2 Update
- Greenbackd submits: OrthoLogic Corporation CAPS has filed its 10Q for the quarter ended June 30, 2008. We’ve been following CAPS see our post archive here because it trades below its net cash value and Biotechnology Value Fund (BVF) has a 13.42% holding. It’s an unusual holding for...
- External links 2009-08-13
- MediciNova Acquiring Avigen: A Post-Mortem
- Greenbackd submits: MediciNova Inc. (NASDAQ:MNOV) will acquire Avigen Inc (NASDAQ:AVGN) for $1.24 per share in cash or secured convertible notes. While the stock is trading at a slight premium to the bid, we’re taking the opportunity to exit. AVGN closed Friday at $1.29, which means we’re up 98.5% on...
- External links 2009-08-23
- VaxGen Nominates Director Candidates, Clarifies Rights to AIDS Vaccine
- Greenbackd submits: It’s been a big week for VaxGen Inc (VXGN.OB). On Tuesday last week the “VaxGen Full Value Committee” nominated five director candidates to the board. Then on Thursday BizJournals.com reported that VXGN’s “failed AIDS vaccine” was “successful in a new trial that combined it with another failed...
- External links 2009-09-30
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