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Vaxgen Inc

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BUSINESS
May 25, 2007 | From Times wire services
VaxGen Inc. said it had halted development of its experimental anthrax vaccine and was cutting 20 jobs, or about a quarter of its workforce. The company, based in South San Francisco, said it had attempted to license or sell the program to another company after the U.S. government canceled an anthrax vaccine contract in January. VaxGen said it had "several discussions underway" to find a partner.
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BUSINESS
May 25, 2007 | From Times wire services
VaxGen Inc. said it had halted development of its experimental anthrax vaccine and was cutting 20 jobs, or about a quarter of its workforce. The company, based in South San Francisco, said it had attempted to license or sell the program to another company after the U.S. government canceled an anthrax vaccine contract in January. VaxGen said it had "several discussions underway" to find a partner.
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BUSINESS
January 21, 2004 | From Bloomberg News
VaxGen Inc., the maker of an HIV vaccine that failed in studies, said company President Donald Francis and two other executives would leave to form a nonprofit AIDS vaccine foundation. Francis and two senior vice presidents, Phillip Berman and Carter A. Lee, will leave the company to work on an HIV vaccine for developing nations, Brisbane, Calif.-based VaxGen said. The company made the announcement after U.S. markets closed. Earlier, VaxGen's shares gained 81 cents to $10.30 on Nasdaq.
BUSINESS
November 2, 2005 | From Bloomberg News
VaxGen Inc. said its first shipments of an anthrax vaccine for the U.S. government would be delayed until the fourth quarter of 2006 as it made required manufacturing changes. The stock fell 33%. VaxGen won an $877.5-million contract a year ago to supply 75 million doses of a vaccine to the Centers for Disease Control and Prevention's stockpile of emergency medical supplies, with the first doses due in the first half of next year.
BUSINESS
October 24, 2003 | From Bloomberg News
VaxGen Inc., which is developing vaccines for smallpox and HIV, said it may have to restate two years of financial results because of the way it accounted for stock warrants. VaxGen is working with its accountant, KPMG, to evaluate whether the restatements for 2001 and 2002 are needed, a spokesman said. The Brisbane, Calif.-based company hasn't posted a profit since its first stock offering in 1999. During a routine review, KPMG alerted the company that $3.
BUSINESS
October 1, 2003 | From Reuters
Vaccine developer VaxGen Inc. said it was awarded an $80.3-million contract from the National Institutes of Health for development of an experimental anthrax vaccine. The three-year contract could pave the way for a significantly larger contract for a national stockpile of anthrax vaccine, the San Diego-based company said. The company's shares, which have fallen 31% this year, rose 7 cents to $12.07 on Nasdaq before the contract award was announced.
NEWS
January 11, 1998 | From Reuters
A small California biotechnology company has engineered the first AIDS vaccine to win federal approval for a large-scale trial in humans, the San Jose Mercury News reported Saturday. The study, which will begin this year, will involve 7,500 healthy volunteers, cost $20 million and take three years. If successful, the vaccine would be made available to the public in the early part of the next century, the paper said. AIDS researchers and activists said the development of the vaccine, produced by VaxGen Inc., is a milestone in the fight against the virus that has killed 11.7 million people worldwide.
BUSINESS
October 14, 2003 | From Bloomberg News
Vical Inc., a San Diego biotechnology company developing infectious-disease treatments, said it signed an agreement with the U.S. to manufacture an experimental SARS vaccine. Terms were not disclosed. The manufacturing order for a severe acute respiratory disease preventive medicine came from the National Institutes of Health and was in addition to one announced in July for West Nile virus and another in 2002 for the Ebola virus. Vical shares rose 38 cents to $6.20 on Nasdaq.
BUSINESS
November 2, 2005 | From Bloomberg News
VaxGen Inc. said its first shipments of an anthrax vaccine for the U.S. government would be delayed until the fourth quarter of 2006 as it made required manufacturing changes. The stock fell 33%. VaxGen won an $877.5-million contract a year ago to supply 75 million doses of a vaccine to the Centers for Disease Control and Prevention's stockpile of emergency medical supplies, with the first doses due in the first half of next year.
NEWS
January 13, 1998 | From Associated Press
VaxGen Inc., a small biotechnology company, has not yet received approval from the Food and Drug Administration to begin human trials of an AIDS vaccine later this year, the company said Monday. The $20-million VaxGen study would involve 7,500 healthy volunteers and would take about three years to complete, company spokeswoman Donna Walters said. If successful, the vaccine could be available to the public early in the next century.
BUSINESS
January 21, 2004 | From Bloomberg News
VaxGen Inc., the maker of an HIV vaccine that failed in studies, said company President Donald Francis and two other executives would leave to form a nonprofit AIDS vaccine foundation. Francis and two senior vice presidents, Phillip Berman and Carter A. Lee, will leave the company to work on an HIV vaccine for developing nations, Brisbane, Calif.-based VaxGen said. The company made the announcement after U.S. markets closed. Earlier, VaxGen's shares gained 81 cents to $10.30 on Nasdaq.
BUSINESS
November 13, 2003 | From Times Wire Services
VaxGen Inc. said Wednesday that preliminary results from a late-stage clinical trial in Thailand using its experimental AIDS vaccine showed that inoculations failed to protect people from getting HIV. VaxGen, based in Brisbane, Calif., did not meet its main goal of preventing HIV infection or its secondary goal of slowing the progression of the disease among those who received the Aidsvax vaccine but later became infected with HIV. VaxGen is seeking money from the U.S.
BUSINESS
October 24, 2003 | From Bloomberg News
VaxGen Inc., which is developing vaccines for smallpox and HIV, said it may have to restate two years of financial results because of the way it accounted for stock warrants. VaxGen is working with its accountant, KPMG, to evaluate whether the restatements for 2001 and 2002 are needed, a spokesman said. The Brisbane, Calif.-based company hasn't posted a profit since its first stock offering in 1999. During a routine review, KPMG alerted the company that $3.
BUSINESS
October 14, 2003 | From Bloomberg News
Vical Inc., a San Diego biotechnology company developing infectious-disease treatments, said it signed an agreement with the U.S. to manufacture an experimental SARS vaccine. Terms were not disclosed. The manufacturing order for a severe acute respiratory disease preventive medicine came from the National Institutes of Health and was in addition to one announced in July for West Nile virus and another in 2002 for the Ebola virus. Vical shares rose 38 cents to $6.20 on Nasdaq.
BUSINESS
October 1, 2003 | From Reuters
Vaccine developer VaxGen Inc. said it was awarded an $80.3-million contract from the National Institutes of Health for development of an experimental anthrax vaccine. The three-year contract could pave the way for a significantly larger contract for a national stockpile of anthrax vaccine, the San Diego-based company said. The company's shares, which have fallen 31% this year, rose 7 cents to $12.07 on Nasdaq before the contract award was announced.
BUSINESS
February 25, 2003 | Denise Gellene, Times Staff Writer
Shares in biotechnology company VaxGen Inc. plunged 47% on Monday after the company revealed that its five-year, $100-million trial of an experimental AIDS vaccine didn't protect people from the virus. The failure of the largest human trial yet for an AIDS vaccine throws VaxGen's future in question. The company, based in Brisbane, Calif., has no licensed products and only about seven months of cash remaining.
BUSINESS
December 17, 2002 | From Reuters
VaxGen Inc. said Monday that the Food and Drug Administration has agreed to an accelerated review of its experimental HIV vaccine -- news that sent the company's shares up 21%. "This is a significant positive for VaxGen.... Once the applications are filed, the FDA can make a decision in fairly short order," said Anna Kazanchyan, an analyst at Investec Inc., which does not have a banking relationship with VaxGen.
BUSINESS
January 25, 2003 | Denise Gellene, Times Staff Writer
Shares of VaxGen Inc., a tiny Northern California biotechnology company racing to develop the first successful AIDS vaccine, plummeted Friday after billionaire Paul Allen revealed that he had reduced his once-substantial stake to less than 5%. Allen's smaller stake added to speculation that VaxGen's experimental vaccine doesn't protect users from the fatal disease. But Jim Key, a company spokesman, said results of a closely watched drug trial, which ended in December, aren't yet known.
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