Key Developments: EXACT Sciences Corporation (EXAS.O)
3.80USD
9 Feb 2010
$-0.16 (-4.04%)
$3.96
$3.94
$3.97
$3.79
55,631
91,709
$4.50
$0.76
Latest Key Developments
EXACT Sciences Corporation Closes $8.2-Million Private Placement; Enters Into Licensing And Collaboration Agreement
EXACT Sciences Corporation announced that it has entered into a collaboration and license agreement with Mayo Clinic. The Company also announced that it has closed an $8.2-million private placement of 4.3 million shares of its common stock. The collaborative relationship with Mayo Clinic is focused on developing patient-friendly diagnostics that reduce deaths from colorectal cancer. Under the license agreement, the Company has secured exclusive rights to intellectual property developed by David Ahlquist, M.D., Mayo Clinic. The licensed patents cover advances in sample processing, analytical testing and data analysis associated with non-invasive, stool-based DNA screening for colorectal cancer. Under the license agreement, the Company will make up-front, milestone and royalty payments to Mayo Clinic, and will provide funding for future work in Dr. Ahlquist`s lab.
EXACT Sciences Corporation Announces New Management Team
EXACT Sciences Corporation announced that its Board of Directors has appointed Kevin T. Conroy as President and Chief Executive, and Maneesh K. Arora as Senior Vice President and Chief Financial Officer, effective April 2, 2009. Mr. Conroy is joining the Company's Board of Directors immediately.
EXACT Sciences Corporation Announces Issuance of Key Patent Covering Vimentin Gene For Colorectal Cancer Screening
EXACT Sciences Corporation announced that a United States patent was issued that covers the use of differentially methylated vimentin as a marker for the detection of colon cancer. The issued patent, expiring in 2024, Methods and Compositions for Detecting Colon Cancers, United States Patent No. 7,485,420, describes, in part, assays for the detection of methylation within a vimentin nucleotide sequence. Studies have demonstrated that methylation of vimentin DNA is associated with the presence of colorectal cancer.
Sequenom, Inc. Terminates Exchange Offer to Acquire EXACT Sciences Corporation
Sequenom, Inc. announced that it is terminating its exchange offer to acquire all of the outstanding shares of common stock of EXACT Sciences Corporation without accepting for exchange or exchanging any shares of EXACT Sciences common stock. Sequenom had previously announced that it would terminate the exchange offer if EXACT Sciences entered into any out-licensing agreement, collaboration or financial restructuring. Sequenom continues to be committed to building its oncology diagnostic franchise.
Sequenom, Inc. Commences Exchange Offer To Acquire EXACT Sciences Corporation
Sequenom, Inc. announced that it has commenced an exchange offer to acquire all of the outstanding shares of common stock of EXACT Sciences Corporation in an all-stock exchange valued at approximately $41 million. Each share of EXACT Sciences is exchangeable for $1.50 in the Company's common stock, subject to a 15% collar that fixes the exchange ratio if the price of Sequenom common stock used to establish the exchange ratio is more than $28.06 per share or is less than $20.74 per share.
Genzyme Corporation Acquires Minority Stake in EXACT Sciences Corporation-Global Markets Direct Financial Deals Tracker
Global Markets Direct Financial Deals Tracker reported that Genzyme Corporation acquired a minority stake in EXACT Sciences Corporation. Under the transaction, Genzyme purchased 3,000,000 shares of the Company's common stock at a price of $2 per share, for an aggregate purchase price of $6 million.
Sequenom, Inc. To Commence Exchange Offer To Acquire EXACT Sciences Corporation
Sequenom, Inc. announced that it intends to make an exchange offer to acquire all of the outstanding shares of common stock of EXACT Sciences Corporation in an all-stock transaction valued at approximately $41 million. Under the terms of the proposal, each share of EXACT Sciences would be exchanged for $1.50 in Sequenom common stock. This consideration would be subject to a floating exchange rate within a 15% collar, in which the price of Sequenom's common stock is between $20.74 and $28.06 per share.
EXACT Sciences Corporation's Board of Directors Rejects Acquisition Proposal from Sequenom, Inc.
EXACT Sciences Corporation announced that its Board of Directors has unanimously rejected an acquisition proposal by Sequenom, Inc. to acquire EXACT for $1.50 per share in Sequenom common stock, subject to a collar. The Board, after reviewing the proposal with its financial and legal advisors, has determined to reject the proposal.
Sequenom, Inc. Proposes to Acquire EXACT Sciences Corporation For $1.50 Per Share or Approximately $41 Million
Sequenom, Inc. announced that it has submitted a proposal to the Board of Directors of EXACT Sciences Corporation to acquire all of the outstanding shares of common stock of EXACT Sciences in an all-stock transaction valued at approximately $41 million. Under the terms of the proposal, each share of EXACT Sciences would be exchanged for $1.50 in Sequenom common stock. This consideration would be subject to a floating exchange rate within a 15% collar, in which the price of Sequenom's common stock is between $20.74 and $28.06 per share. This proposed transaction represents a 69% premium to the closing price of EXACT Sciences` common stock of $0.89 on January 8, 2009, and a 154% premium to its 30-day volume-weighted average closing price of $0.59. The proposed transaction is intended to be structured as a tax-free exchange.
EXACT Sciences Corporation Announces Transfer From The NASDAQ Global Market To The NASDAQ Capital Market-M2 Europharma
M2 Europharma reported that EXACT Sciences Corporation's common stock will be transferred from The NASDAQ Global Market to The NASDAQ Capital Market.
UPDATE 1-Genzyme buys some assets, 3 mln shrs of Exact Sciences
Jan 27 (Reuters) - Exact Sciences , which develops technologies that detect cancer, said Genzyme Corp bought certain assets related to prenatal and reproductive health and 3 million of its shares, in a deal that will see Exact receive $24.5 million in cash.
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