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Vaxgen Inc

BUSINESS
March 13, 2004 | From Bloomberg News
Shares of VaxGen Inc., which makes vaccines against potential bioterrorism agents, rose 6.8% on Friday in the wake of news that the U.S. would buy as many as 75 million doses of experimental anthrax vaccine. The Department of Health and Human Services confirmed Friday that it was opening bidding on contracts for the production of the doses, which would be put into a stockpile to protect the public in the event of an anthrax attack. Two firms, Brisbane, Calif.
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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 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.
SCIENCE
February 25, 2003 | Thomas H. Maugh II and Denise Gellene, Times Staff Writers
Although the first clinical trial of an AIDS vaccine proved to be an overall failure, researchers were sharply divided Monday over data from a subset of participants that seemed to offer hope for treating blacks and Asians. After a massive five-year trial, officials of Brisbane, Calif.-based VaxGen Inc. were forced to concede that their prototype vaccine, called Aidsvax, provided no protection to the vast majority of the people who received it.
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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