Summary
Almost two years after CuraGen Corp. signed a $62 million marketing and sales agreement with pharmaceutical giant Roche Holding AG of Switzerland, the two firms announced Thursday that Roche will buy CuraGen subsidiary 454 Life Sciences for $155 million.
While CuraGen officials said the deal would yield $85 million in cash after expenses to continue developing its late-stage drugs to treat cancer and inflammatory diseases, Wall Street was not impressed: CuraGen's stock plunged 20 percent, shedding 77 cents a share to close at $3.07 on Nasdaq.See the full content of this document
Extract
Curagen Sells Subsidiary to Roche
Piper Jaffray analyst Edward Tenthoff downgraded his rating on CuraGen's stock to "market perform" from "outperform" and dropped h...
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