surf1944
12 years ago
4:13PM Maxygen continues to evaluate potential strategic options (MAXY) 2.48 -0.01 : Co continues to evaluate potential strategic options for the company as a whole, including a merger, reverse merger, sale, liquidation and dissolution or other strategic transaction. Also, although none are currently contemplated, Maxygen expects to evaluate and consider additional distributions to its stockholders of a portion of the company's cash resources in excess of its limited future operational requirements, amounts the company considers appropriate to pursue its ongoing strategic evaluation and adequate reserves for potential future liabilities. Such distributions may be accomplished through cash dividends, stock repurchases or other mechanisms and may be fully or partially taxable depending on the circumstances of such distribution.
surf1944
12 years ago
Maxygen, Inc. (MAXY), a biotechnology company, today announced financial and business results for the quarter ended June 30, 2012. Maxygen also announced today that its Board of Directors has authorized a special pro rata distribution of $3.60 per share for each outstanding share of Maxygen common stock owned on the close of business on August 21, 2012. The distribution is expected to total approximately $100.0 million and will be payable on September 6, 2012.
http://finance.yahoo.com/news/maxygen-announces-second-quarter-2012-200500209.html
surf1944
13 years ago
MAXY worth a trade:
Total Cash (mrq): 162.92M
Total Cash Per Share (mrq): 5.80
Total Debt (mrq): 0.00
Total Debt/Equity (mrq): N/A
Current Ratio (mrq): 59.95
Book Value Per Share (mrq): 5.94
Avg Vol (3 month)3: 118,821
Avg Vol (10 day)3: 104,543
Shares Outstanding5: 28.10M
Float: 26.31M
% Held by Insiders1: 3.45%
% Held by Institutions1: 46.00%
Shares Short (as of Dec 15, 2011)3: 1.30M
Short Ratio (as of Dec 15, 2011)3: 13.60
Short % of Float (as of Dec 15, 2011)3: 4.60%
Shares Short (prior month)3: 1.45M
surf1944
13 years ago
Maxygen Announces Final Rejection of All Claims of Amgen ‘804 Patent in Inter Partes Reexamination Proceeding
Chart for Maxygen, Inc.
Press Release Source: Maxygen, Inc. On Monday October 10, 2011, 5:00 pm EDT
REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Maxygen, Inc. (Nasdaq:MAXY - News), a biotechnology company, today announced that the United States Patent and Trademark Office (PTO) has issued a Right of Appeal Notice in the inter partes reexamination proceeding for Amgen’s U.S. Pat. No. 7,381,804 (the ‘804 patent) that includes a final rejection of all claims in the ‘804 patent. Amgen’s ‘804 patent includes certain claims to mutated granulocyte colony stimulating factor (G-CSF) molecules that potentially cover Maxygen’s MAXY-G34 product candidate, a next-generation, pegylated G-CSF. Maxygen submitted the request to the PTO for an inter partes reexamination of the Amgen patent in 2009. Amgen has the right to appeal the decision to the PTO’s Board of Patent Appeals and Interferences.
“We are very pleased with the outcome of the reexamination proceeding, and we believe that this result provides a foundation for our efforts to generate further value from the MAXY-G34 program for our stockholders,” said James R. Sulat, Maxygen’s Chief Executive Officer.
mlkrborn
13 years ago
MAXY increases stox repurchase amount to $20 million.. Wonder if this guys are spending money from their revenue based cash pool?
Business Summary
Maxygen, Inc., a biopharmaceutical company, focuses on developing improved versions of protein drugs. The company utilizes its MolecularBreeding directed evolution technology platform, along with ancillary technologies, and protein modification expertise to pursue the creation of biosuperior proteins. It engages in the discovery, and research and development of multiple protein pharmaceutical programs, including CTLA-4 Ig product candidates that are designed to be CTLA-4 Ig therapeutics for the treatment of an array of autoimmune disorders, including rheumatoid arthritis, and transplant rejection; and MAXY-G34 product candidates for the treatment of chemotherapy-induced neutropenia. The company also focuses on developing biocatalytic process technologies for pharmaceutical, energy, and industrial chemical applications. Maxygen, Inc. was founded in 1996 and is headquartered in Redwood City, California.
surf1944
13 years ago
Maxygen plans $10M stock repurchase
Silicon Valley / San Jose Business Journal
Date: Tuesday, May 31, 2011, 2:40pm PDT
Maxygen Inc.bizWatch said Tuesday it plans to repurchase up to $10 million of its common stock through the end of the year.
Since December 2009, Redwood City-based Maxygen (NASDAQ:MAXY) has bought back about 10 million shares for about $54.1 million.
Last month Maxygen received $76 million in cash from Astellas Bio Inc. for the purchase of Maxygen’s equity interests in Perseid Therapeutics LLC, a former majority-owned subsidiary of Maxygen.
Maxygen also remains eligible for a payment of up to $30 million from Bayer HealthCare LLC related to the sale of hematology assets to Bayer in July 2008
surf1944
16 years ago
Maxygen selling hemophilia unit to Bayer
Wednesday July 2, 10:07 am ET
Maxygen selling hemophilia unit to Bayer's health care unit for $90 million upfront
NEW YORK (AP) -- Bayer's health care unit is buying Maxygen Inc.'s hemophilia unit for $90 million upfront and potential future fees of up to $30 million in a move to expand its specialty pharmaceutical business, the companies said Wednesday.
Hemophilia is an inherited bleeding disorder caused by deficient or defective blood clotting proteins. Roughly 20 percent to 30 percent of patients with hemophilia develop antibodies to current therapies, so a mechanism called Factor VIIa is used to help these individuals form clots.
Germany's Bayer will gain the Redwood City, Calif.-based biotechnology company's lead drug candidate MAXY-VII, along with a license to use the company's underlying gene targeting technology.
MAXY-VII is expected to move to early-stage clinical studies in the third quarter. Bayer already sells Factor VIII product Kogenate for the treatment of hemophilia A, which affects about 1 in 10,000 births.
Shares of Maxygen surged 90 cents, or 25.6 percent, to $4.41 during morning trading. The stock has traded between $3.28 and $9.56 over the last 52 weeks.
surf1944
16 years ago
Maxygen plunges on potential Amgen patent dispute
Friday June 13, 10:55 am ET
Maxygen shares plunge as Amgen gets patent which threatens product launch, patent litigation
NEW YORK (AP) -- Shares of Maxygen Inc. plunged 27 percent Friday, after the biotechnology company said it may be open to patent infringement litigation from rival Amgen Inc.
In a filing with the Securities and Exchange Commission, Maxygen said Amgen received a patent which appears to cover the company's drug MAXY-G34, which treats a common chemotherapy-induced blood disorder known as neutropenia. The drug is not yet on the market.
While Maxygen believes the patent will eventually be invalidated in court, it does give Amgen grounds to sue Maxygen, just as MAXY-G34 approaches marketing. If the company isn't able to overturn the patent, the drug's launch could be delayed by two years, estimated Cowen and Co. analyst Eric Schmidt.
While Schmidt notes that the news adds incremental litigation risk to Maxygen, he thinks the company's share price is cheap in relation to its protein engineering platform and drug pipeline.
Goldman Sachs analyst May-Kin Ho expected the news to pressure Maxygen shares, given that investors may now be uncertain about how the Amgen patent will affect potential partnership deals for MAXY-G34, launch timing and potential legal disputes which may take years to resolve.
In morning trading, Maxygen shares fell $1.30, or 27 percent, to $3.55 on 10 times average daily volume.
Maxygen warns of possible Amgen suit
Friday June 13, 11:24 am ET
Maxygen warns of possible Amgen patent-infringement suit
WASHINGTON (AP) -- Maxygen Inc. warned Friday that Amgen Inc. may sue the company for patent infringement relating to Maxygen's Maxy-G34 drug candidate.
Maxy-G34 is designed to be the improved version of granulocyte colony-stimulating factor, or G-CSF, for the treatment of neutropenia, according to a Securities and Exchange Commission filing Friday.
Neutropenia is an abnormally low number of neutrophils, a type of white blood cell, in the blood. White blood cells help fight bacterial infections.
Maxygen, a Redwood City, Calif.-based biopharmaceutical company, said the U.S. Food & Drug Administration granted a patent to Amgen on June 3 with certain G-CSF claims.
Maxygen said it has been granted four patents related to Maxy-G34. Maxy-G34 is currently in Phase II clinical trials.
The company said its current activities related to Maxy-G34 are exempt from patent-infringement liability because these activities are limited strictly to obtaining information for regulatory approval.
Maxygen said that if and when its MAXY-G34 related activities extend beyond those related to seeking regulatory approval, such as the commercialization of MAXY-G34, Amgen might start an infringement action against the company based on this patent and/or other related patents that it may be granted in the future.
If Amgen elects to sue the company, Maxygen believes that it will have a viable defense to any such infringement lawsuit and plans to vigorously defend against any such claims, the SEC filing said.
Maxygen said the delay and cost to the company of any patent litigation or other proceedings, such as interference proceedings, even if resolved in its favor, could be substantial.
Shares of Maxygen tumbled $1.23, or 25 percent, to $3.62 in late-morning trading Friday.
However, Amgen shares climbed 76 cents, or 1.8 percent, to $43.98. The biotechnology company is based in Thousand Oaks, Calif.
surf1944
17 years ago
Maxygen Reports First Quarter 2008 Financial Results
Tuesday May 6, 9:06 am ET
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Maxygen, Inc. (Nasdaq:MAXY - News), a biotechnology company focused on the development of improved protein drugs, today reported financial results and business milestones for the quarter ended March 31, 2008.
“Our major achievement in Q1 was the progress of MAXY-G34, our long-acting G-CSF for treatment of neutropenia,” said Russell Howard, chief executive officer of Maxygen. “During the quarter we completed enrollment of all patients at the 10, 30, and 60 microgram/kilogram dose levels and have seen no safety issues or immunogenicity so far. Good activity at the 30 and 60 microgram/kilogram doses prompted us to explore an additional 45 microgram/kilogram dose, which is also now fully enrolled. We feel confident that we will achieve our goal, on schedule, of identifying a suitable dose to take into Phase IIb studies.”
“Our MAXY-VII and MAXY-4 programs also are progressing well. Our team should be congratulated for successfully transitioning operations from Denmark to the U.S. without interrupting the important work of moving these programs forward.”
In November 2007 Maxygen announced plans to close Maxygen ApS, its subsidiary in Denmark, and consolidate all operations at its U.S. headquarters in Redwood City, CA. Effective February 29, 2008, the company ceased operations at the Denmark site.
First Quarter 2008 Financial Results
Maxygen reported a net loss of $13.7 million, or $0.37 per share, for the first quarter 2008 as compared to a net loss of $7.7 million, or $0.21 per share, for the comparable period in 2007.
Revenue for the first quarter was $1.4 million, compared to $9.1 million for the same period in 2007. The change was due primarily to loss of revenues from a Roche collaboration agreement to develop a novel Factor VIIa for trauma indications. The agreement ended in April 2007.
Total operating expenses for the quarter were $17.2 million compared to $18.9 million in the first quarter of 2007. The decrease in expenses was due to the cessation of operations at Maxygen’s Denmark site on February 29, 2008.
Excluding the impact of non-cash stock compensation expense under SFAS 123(R), Maxygen reported a non-GAAP net loss (see Footnote A) of approximately $12.5 million, or $0.34 per share, in the first quarter of 2008, compared to a non-GAAP net loss of approximately $5.8 million, or $0.16 per share, in the first quarter of 2007.
At March 31, 2008, cash, cash equivalents and marketable securities totaled $133.6 million.
surf1944
17 years ago
Codexis, Inc. Files Registration Statement for Proposed Initial Public Offering
Monday April 14, 1:00 pm ET
REDWOOD CITY, Calif., April 14 /PRNewswire/ -- Codexis, Inc. announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") relating to the proposed initial public offering of shares of its common stock. Copies of the Codexis registration statement on Form S-1 can be accessed through the SEC's website at edgar.sec.gov. The number of shares being offered and the price range for the offering have not yet been determined. The shares of common stock to be sold in this offering are proposed to be sold by Codexis, Inc.
Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. will be acting as joint book-running managers, with Piper Jaffray & Co., RBC Capital Markets Corporation and Thomas Weisel Partners LLC acting as co-managers for the offering. This offering will be made only by means of a prospectus. Copies of the preliminary prospectus for this offering may be obtained, when available, from the prospectus department of Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, via telephone at 800-221-1037; or from the prospectus department of Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, New York 10004, via fax at 212-902-9316.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall neither constitute an offer to sell nor a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
surf1944
17 years ago
Maxygen Announces Positive Progress in Phase IIa Clinical Trial of Novel PEG-GCSF
Monday January 7, 9:00 am ET
-Initial 10 mcg/kg MAXY-G34 Cohort Met Key Safety Criterion of Duration of Neutropenia-
-No Serious Adverse Events or Immunogenicity to Date-
REDWOOD CITY, Calif., Jan. 7 /PRNewswire-FirstCall/ -- Maxygen, Inc. (Nasdaq: MAXY - News) today announced positive progress in its Phase IIa trial of MAXY-G34 for the treatment of chemotherapy-induced neutropenia. Initial observations from the trial include the following:
-- Patients in the initial 10 mcg/kg MAXY-G34 cohort met the safety
criterion for duration of neutropenia (less than or equal to five days
of severe neutropenia). In these trial conditions, severe neutropenia
typically lasts approximately seven days without G-CSF support.
-- No serious adverse events or immunogenicity issues were noted for the
initial cohort of patients on 10 mcg/kg of MAXY-G34. Data available
from multiple patients after multiple doses revealed no binding
antibodies, and drug response in all patients has been sustained.
-- The Data Safety Monitoring Board overseeing the trial approved
escalation to the second dose level of 30 mcg/kg MAXY-G34. The first
cohort of patients at this level is enrolled and currently undergoing
treatment.
-- To date, no serious adverse events or drug-related grade 3 or 4 adverse
events have been reported in any patient receiving MAXY-G34. A total of
23 doses of MAXY-G34 have been delivered to patients in the 10 mcg/kg
and 30 mcg/kg cohorts.
http://biz.yahoo.com/prnews/080107/aqm068.html?.v=28
surf1944
17 years ago
AP
Maxygen, Sanofi-Aventis in License Deal
Tuesday December 4, 9:40 am ET
Maxygen Licenses Dengue Virus Treatment to Sanofi-Aventis in Deal Worth Up to $24.5 Million
REDWOOD CITY, Calif. (AP) -- Biotechnology company Maxygen Inc. on Tuesday said it granted the license of a virus antigen to a division of Sanofi-Aventis, the world's third-biggest drug maker, in a deal worth up to $24.5 million.
Under terms of the agreement, Maxygen will transfer to Sanofi Pasteur a portfolio of preclinical dengue antigens for the development and worldwide commercialization of a second generation vaccine.
The dengue virus is a mosquito-borne disease that infects more than 50 million people annually -- primarily in the tropics -- and kills more than 20,000, mainly children, according to The World Health Organization.
Besides royalties, total payments to Maxygen could total $24.5 million, according to the company.
Maxygen shares lost a penny at $7.50 in morning trading.
surf1944
17 years ago
Roche, Maxygen end hepatitis drug development deal
Monday November 26, 1:06 pm ET
Maxygen Inc. and drugmaker Roche will end development of the hepatitis infection drug MAXY-alpha.
Roche in September had placed a hold on the program, which the companies had been developing since 2003.
Roche, which fully funded the MAXY-alpha program, had started a Phase Ia clinical trial in New Zealand at the end of 2006.
Redwood City-based Maxygen (NASDAQ: MAXY) expected no milestone payments in 2007 or 2008, the company said.
"While we are disappointed, we recognized and had advised earlier that termination of the program was one of the likely possibilities," said Maxygen CEO Russell Howard.
MAXY-alpha was designed to treat infections related to hepatitis C, the leading cause of liver cancer cases worldwide, and hepatitis B.
Published November 26, 2007 by San Francisco Business Times
surf1944
17 years ago
Maxygen to Receive $7 Million From BioFuel Collaboration Between Shell and Codexis
Monday November 19, 9:00 am ET
REDWOOD CITY, Calif., Nov. 19 /PRNewswire-FirstCall/ -- Maxygen, Inc. (Nasdaq: MAXY - News) announced today that it expects to recognize approximately $7 million in revenue in the fourth quarter of 2007 under the terms of Maxygen's license agreement with Codexis Inc.
The payment reflects the expanded collaboration agreement between Royal Dutch Shell plc and Codexis, announced November 6, 2007, for the development of new super enzymes to convert biomass to fuel. The expanded agreement covers five years of research collaboration. In addition Shell made an equity investment in Codexis as part of a larger financing. This financing reduces Maxygen's ownership in Codexis to approximately 25% of Codexis' outstanding shares. Maxygen owns approximately 8.9 million shares of various classes of Codexis preferred stock convertible into common shares and shares of Codexis common stock. The convertible preferred stock of the most recent Codexis financing is senior in liquidation preference to Maxygen's shares and was sold at a price of $8.50 per share.
"We are pleased with the continuing success and increasing value of Codexis' business," said Russell Howard, chief executive officer of Maxygen. "Leveraging Maxygen's MolecularBreeding(TM) technology outside the pharmaceutical industry has provided us with a good source of non-dilutive financing to help drive our protein therapeutic business."
Maxygen established Codexis in 2003 as a spin-out company, and granted to Codexis exclusive licenses to use Maxygen's MolecularBreeding(TM) directed evolution platform for certain chemical applications. In December 2006, Maxygen expanded the scope of exclusive licenses previously granted to include certain applications relating to energy, including biofuels.
http://biz.yahoo.com/prnews/071119/aqm079.html?.v=31
surf1944
17 years ago
Maxygen Announces Hold on MAXY-alpha Development Program
REDWOOD CITY, Calif., Sept. 21 /PRNewswire-FirstCall/ -- Roche has advised Maxygen, Inc. (Nasdaq: MAXY) that it has voluntarily placed a hold on further clinical development of MAXY-alpha, also known as R7025. MAXY-alpha is a novel interferon-alpha for the treatment of Hepatitis C and Hepatitis B virus infections and is licensed to Roche.
Preliminary observations from a Phase I trial indicate that an unexpected reduction of the pharmacodynamic and pharmacokinetic effects of MAXY-alpha occurred in the majority of subjects who received two doses of MAXY-alpha. In addition, antibodies binding to MAXY-alpha were identified in some subjects. Roche has initiated additional investigational studies in order to assess these results.
'We are all surprised by these unexpected findings,' said Russell Howard, Maxygen's chief executive officer. 'We don't yet know how this will impact the future timing or advancement of the program. Roche has now started additional work to assess the meaning and significance of these results. We will provide an update once all relevant information is collected and evaluated.'
About the Maxygen and Roche Agreement
Maxygen and Roche entered into an agreement in 2003 to develop novel interferon alpha and beta products for a wide range of indications. Roche licensed from Maxygen worldwide commercialization rights to specific novel interferon product candidates for the treatment of Hepatitis C and B virus infections. Maxygen received an initial payment, full research and development funding for work done by Maxygen in the first two years of the collaboration, and milestone payments for the advancement of the MAXY-alpha product candidate. In addition, Maxygen is eligible to receive milestone payments and royalties based on any product sales.
About Maxygen
Maxygen is a biopharmaceutical company focused on developing improved versions of protein drugs. We look for opportunities where our proprietary protein modification technologies can address significant therapeutic needs. For more information about Maxygen's products and technologies, visit http://www.maxygen.com.
Forward-Looking Statements
This news release contains forward-looking statements about our research and business prospects, including those relating to our ability to develop any human therapeutic products suitable for commercialization; whether Roche will resume the clinical development of our MAXY-alpha product candidates or undertake any other development activities related to the MAXY-alpha development program, and the timing of any such development or activities; the nature, scope and timing of any further evaluation by Roche of the data that resulted in a voluntary hold on the clinical development of MAXY-alpha and whether any such evaluation will adequately assess the meaning or significance of such data or the suitability of MAXY-alpha for further development; the success or continuation of our MAXY-alpha development program and our existing collaboration with Roche; and, if such development program is continued, whether we will receive any future milestone payments or royalties from Roche relating to our MAXY-alpha product candidates. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Among other things these risks and uncertainties include, but are not limited to, changing research and business priorities of Maxygen and/or Roche, the inherent uncertainties of pharmaceutical research and drug development, our ability to develop human therapeutic drugs in an increasingly competitive biotechnology industry and the uncertain timing of such development, the development of superior products by competitors, and our ability to establish and maintain our research and commercialization collaborations and manufacturing arrangements. These and other risk factors are more fully discussed in our Form 10-K for the year ended December 31, 2006, including under the caption 'Risk Factors', and in our other periodic SEC reports, all of which are available from Maxygen at http://www.maxygen.com. Maxygen disclaims any obligation to update or revise any forward-looking statement contained in this release as a result of new information or future events or developments.
SOURCE Maxygen, Inc
Source: PR Newswire (September 21, 2007 - 7:00 AM EST)
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