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  • Tengion, Inc. (Nasdaq: TNGN) settles for the bounce 0 comments
    Feb 16, 2011 11:01 AM | about stocks: TNGN

    Tengion, Inc. (Nasdaq: TNGN), US clinical-stage biotechnology company, said it had discussed a possible stock-for-stock tie-up with a listed company, but the recent rise in its trading share price had pushed the interested party away.

    Tengion’s stock back down from $5.50s to $2.80s & settles for the bounce

    Tengion Addresses Recent Trading Activity in its Common Stock

    PR Newswire   ”Press Releases US – English”
    EAST NORRITON, Pa. , Feb. 16, 2011 /PRNewswire/ — Tengion, Inc. (Nasdaq: TNGN), a leader in regenerative medicine, today announced that it has been engaged in negotiations with a publicly traded company relating to the acquisition of Tengion through a stock-for-stock merger. As a result of the recent increases in the trading price and volume of Tengion ‘s common stock, Tengion ‘s potential acquirer has terminated merger negotiations.

    As has previously been stated in the Company’s filings with the Securities and Exchange Commission , Tengion believes it has sufficient cash to fund its operations into April 2011 . If Tengion cannot secure either a sale transaction or alternative financing through partnership or equity investment, Tengion may need to take steps to wind down its operations so as to preserve the value of its assets for the benefit of its creditors and stockholders.

    Themes: biotech Stocks: TNGN
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