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Archive for the ‘VaxGen Inc (OTC:VXGN)’ Category

VXGN Q3 10Q out; Greenbackd exits, dammit

Posted in Activist Investors, Stocks, VaxGen Inc (OTC:VXGN), tagged , , on November 4, 2009 | 9 Comments »

VaxGen Inc (OTC:VXGN) is all over. The latest 10Q has come out and, while not much has changed, it’s irrelevant in light of the pending deal with OXGN. The liquidation value remains around $23.6M or $0.71 per share. Whether that deal is consummated or not, VXGN shareholders will be worse off. The stock price is [...]

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VXGN board sued by shareholders over OXGN deal

Posted in Activist Investors, Net Cash Stocks, Net Net Stocks, Stocks, VaxGen Inc (OTC:VXGN), tagged , , , on October 22, 2009 | 24 Comments »

Disgruntled VaxGen Inc (OTC:VXGN) shareholders have initiated a class action against the board of VXGN over possible breaches of fiduciary duty in the sale to OXGN. The board certainly deserves the suit because of the appalling deal struck with OXGN. Priced at a discount to VXGN’s net cash and liquidation values, and payment in the [...]

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VXGN gifted to OXGN; VXGN directors abandon shareholders, senses

Posted in Stocks, VaxGen Inc (OTC:VXGN), tagged , , on October 16, 2009 | 93 Comments »

VaxGen Inc (OTC:VXGN) is to be sold to Oxigene Inc (OTC.OXGN) for $22M in OXGN stock. The summary terms of the deal announced by OXGN are as follows: OXGN will issue ~15.6M common shares in exchange for all outstanding VXGN common shares (~33.1M). For each VXGN share held, VXGN shareholders receive 0.4719 OXGN shares. OXGN [...]

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VXGN Full Value Committee nominates director candidates; VXGN clarifies rights to AIDS vaccine

Posted in Activist Investors, Net Cash Stocks, Stocks, VaxGen Inc (OTC:VXGN), tagged , , , on September 30, 2009 | 6 Comments »

It’s been a big week for VaxGen Inc (OTC:VXGN). 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 vaccine in reducing the risk of becoming infected [...]

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VXGN investors form “VaxGen Full Value Committee” to conduct proxy fight

Posted in Activist Investors, Net Cash Stocks, Spencer Capital Management, Stocks, VaxGen Inc (OTC:VXGN), tagged , , , on September 10, 2009 | 9 Comments »

A group of investors in VaxGen Inc (OTC:VXGN) have formed the “VaxGen Full Value Committee” to conduct a proxy contest to replace the current board of VXGN at the next annual shareholders meeting. The group, comprising BA Value Investors’ Steven N. Bronson and ROI Capital Management’s Mark T. Boyer and Mitchell J. Soboleski, intends to [...]

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Spencer Capital leads charge against VXGN board

Posted in Activist Investors, Net Cash Stocks, Spencer Capital Management, Stocks, VaxGen Inc (OTC:VXGN), tagged , , , on August 21, 2009 | 14 Comments »

Spencer Capital has filed preliminary proxy documents to remove the board of VaxGen Inc (OTC:VXGN). In the documents, Spencer Capital, which leads a group of investors calling themselves “Value Investors for Change,” call out VXGN’s board on its “track record of failure and exorbitant cash compensation”: VaxGen does not have any operations, other than preparing [...]

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Two VXGN shareholders send a letter to the board

Posted in Activist Investors, Stocks, VaxGen Inc (OTC:VXGN), tagged , , on August 14, 2009 | 9 Comments »

Two VaxGen Inc (OTC:VXGN) shareholders have sent a letter to the board of directors of the company claiming that the directors have failed in their fiduciary duties to shareholders. After reading the “list of grievances and imponderables over the actions of VaxGen’s Board and Management” laid out in the letter, you’ll find it hard to [...]

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VaxGen Inc (OTC:VXGN) Q2 update

Posted in Activist Investors, Net Cash Stocks, Net Net Stocks, Stocks, VaxGen Inc (OTC:VXGN), tagged , , , , on August 4, 2009 | 13 Comments »

VaxGen Inc (OTC:VXGN) 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 is “seeking to maximize the value of its remaining assets [...]

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BA Value Investors files 13D for VXGN; calls for immediate $10M distribution to shareholders

Posted in Activist Investors, Stocks, VaxGen Inc (OTC:VXGN), tagged , , , , on July 9, 2009 | 7 Comments »

BA Value Investors has disclosed a 5.1% holding in VaxGen Inc (OTC:VXGN) and, in a letter to the board of directors, called on VXGN to “act promptly to reduce the size of the board to three directors; reduce director compensation; change to a smaller audit firm; terminate the lease of its facilities; otherwise cut costs; [...]

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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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