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Archive for the ‘Avigen (NASDAQ:AVGN)’ Category

AVGN releases terms of MNOV deal; Shareholder launches class action

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged , , , , on August 27, 2009 | Leave a Comment »

Although we closed our position in Avigen Inc (NASDAQ:AVGN) earlier this week, we’re keeping a watching brief on the stock. AVGN has now filed with the SEC the terms of the deal with MediciNova Inc (NASDAQ:MNOV), and they’re not as bad as the earlier report seemed to suggest. The deal has, however, attracted the ire [...]

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MNOV to acquire AVGN for $1.24 per share; Greenbackd exits

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged , , , , on August 24, 2009 | 1 Comment »

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 an absolute basis. The S&P500 was at 816.21 [...]

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Avigen Inc (NASDAQ:AVGN) Q2 10Q update

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged , , , , on August 18, 2009 | Leave a Comment »

Avigen Inc (NASDAQ:AVGN) has filed its 10Q for the period ended June 30, 2009. One interesting aspect of the 10Q is the cost the company attributes to responding to the proxy fight and hostile tender offer: Operating Activities. Net cash used in operating activities was $8.2 million during the six months ended June 30, 2009. [...]

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AVGN merger with MediciNova back on the table

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Greenbackd Portfolio, Liquidation Value, Net Cash Stocks, Stocks, tagged , , , , on July 21, 2009 | Leave a Comment »

Avigen Inc (NASDAQ:AVGN) is back in negotiations with MediciNova, Inc. regarding a proposed acquisition of AVGN by MediciNova. The consideration for the deal is AVGN’s “net cash liquidation value plus $3 million” and “a contingent payment right for a specific product program milestone payment associated with Avigen’s Assignment Agreement with Genzyme Corporation, potentially subject to [...]

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Greenbackd Portfolio Q2 Performance and Update

Posted in About, Autobytel (NASDAQ:ABTL), Avigen (NASDAQ:AVGN), Axcelis Technologies Inc (NASDAQ:ACLS), Ditech Networks Inc (NASDAQ:DITC), Greenbackd, Greenbackd Portfolio, Liquidation Value, MathStar Inc (OTC:MATH), Network Engines Inc (NASDAQ:NENG), Neurobiological Technologies Inc (NASDAQ:NTII), Northstar Neuroscience Inc (NASDAQ:NSTR), Rackable Systems Inc (NASDAQ:RACK), Soapstone Networks Inc (NASDAQ:SOAP), Stocks, Vanda Pharmaceuticals Inc (NASDAQ:VNDA), VaxGen Inc (OTC:VXGN), tagged , , , , , , , on June 1, 2009 | Leave a Comment »

Update June 16, 2009: SOAP has announced that it proposes to liquidate. See our post below. Update June 3, 2009: We’ve pinned this post to the front page. Any new posts between now and July 4th will appear below this post. — June 1, 2009 marked the end of Greenbackd’s second quarter. It’s time again [...]

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Avigen granted AV411 patent

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Stocks, tagged , , , on May 22, 2009 | 2 Comments »

Avigen Inc (NASDAQ: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 less than the value of its cash after deducting all [...]

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Avigen Inc (NASDAQ:AVGN) Q1 10Q update

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged , , , on May 14, 2009 | Leave a Comment »

Avigen Inc (NASDAQ:AVGN) has filed its 10Q for the period ended March 31, 2009. 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 less than the value of its cash after deducting all liabilities), albeit a cash burning net cash [...]

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List of activist investments for March

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, CuraGen Corporation (NASDAQ:CRGN), DellaCamera Capital Management, Stocks, tagged , , , , on April 13, 2009 | Leave a Comment »

The Official Activist Investing Blog has published its list of activist investments for March (links are to the relevant post archive for our open positions): Ticker Company Investor ACTL Actel Corp Ramius Capital AGYS Agilysys Inc Ramius Capital AMLN Amylin Pharmaceuticals Eastbourne Capital ASPM Aspect Medical Systems First Manhattan Co ASPM Aspect Medical Systems Coghill [...]

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BVF fails to tip AVGN board

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged , , , , on March 30, 2009 | 1 Comment »

Biotechnology Value Fund (BVF) failed in its bid to remove Avigen Inc’s (NASDAQ:AVGN) board at Friday’s special meeting of stockholders, despite 58% of stockholders voting in favor of removing the board and only 12% voting in favor of retaining the incumbents. The outcome highlights the difficulties faced by stockholders in selecting rival slates of directors. [...]

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AVGN ends merger discussions; terminates CEO and other officers

Posted in Activist Investors, Avigen (NASDAQ:AVGN), Biotechnology Value Fund, Net Cash Stocks, Stocks, tagged , , , , on March 27, 2009 | 3 Comments »

Avigen Inc (NASDAQ:AVGN) has discontinued its merger discussions and terminated its Chief Executive Officer and President, Kenneth Chahine, its Chief Business Officer, Michael Coffee, and its General Counsel, M. Christina Thomson, ahead of the special meeting of stockholders to be held today. Stockholders are to vote on BVF’s proposal to remove the board of AVGN [...]

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