Home > Press > Nanogen, Inc. Files Preliminary Proxy Statement
Nanogen, Inc. (Nasdaq:NGEN), developer of advanced diagnostic products, announced that it has filed with the Securities and Exchange Commission (SEC) a preliminary proxy statement for a special meeting of its stockholders. At the special meeting, the stockholders will be asked to approve a series of measures that the company believes will increase the financing alternatives available to it, including approval of the company's debt financing in August 2007 and approval of an increase in the number of its authorized shares of common stock. Additionally, the company is seeking stockholder approval for the Board of Directors at their discretion during the next year to effect a reverse split of its common stock in order to improve trading of its stock and to maintain its listing on the Nasdaq Global Market. Details of these proposals will be included in the definitive proxy statement that will be mailed to stockholders.
Nanogen, Inc. Files Preliminary Proxy Statement
SAN DIEGO, CA | Posted on December 10th, 2007
Approval of the proposals set forth in the proxy statement is an important and continuing component of the company's restructuring activities announced in September 2007. The restructuring is expected to reduce expenses by over $20 million per year and to significantly reduce the cash required to fund the business until positive cash flow is achieved. The company expects to achieve cash flow breakeven in late 2008 and will seek stockholder approval of measures that it believes will enable the company to finance itself as a component of future success.
The date of the special meeting of stockholders will be specified in the definitive proxy statement that will be mailed to stockholders following the SEC's review of the preliminary proxy statement or, alternatively, the SEC's election not to review the preliminary proxy statement.
About Nanogen, Inc.
Nanogen’s advanced technologies provide researchers, clinicians and physicians worldwide with improved methods and tools to predict, diagnose, and ultimately help treat disease. The company's products include real-time PCR reagents and kits based on the Company’s proprietary probe technology branded as MGB Alert® and Q-PCR Alert, and a line of rapid point-of-care diagnostic tests used in urgent care settings to aid in the diagnosis of heart failure conditions. Nanogen’s ten years of pioneering research involving nanotechnology holds the promise of miniaturization and continues to be supported for its potential for diagnostic and biodefense applications. For additional information please visit Nanogen’s website at www.nanogen.com.
Important Additional Information Will Be Filed with the SEC
Nanogen and its directors and officers may be deemed to be participants in the solicitation of proxies for the special meeting of stockholders. Nanogen will file with the SEC and mail to its stockholders definitive proxy statement for the special meeting of the stockholders. The definitive proxy statement will contain important information regarding the participants in the solicitation and proposals submitted to the stockholders for approval at the special meeting.
Stockholders of Nanogen are advised to read the definitive proxy statement when it becomes available. Stockholders of Nanogen may obtain, free of charge once they become available, copies of the definitive proxy statement and other documents filed by Nanogen with the SEC at the internet website maintained by the SEC at www.sec.gov. These documents may also be obtained free of charge by calling investor relations at Nanogen at (858) 410-4600.
Nanogen Forward-Looking Statement
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including those relating to the need for additional financing, reduction of expenses after restructuring activity, anticipated cash flow and profit, delisting from the NASDAQ Global Market, whether products under development can be successfully developed and commercialized, whether results reported by our customers or partners can be identically replicated, and other risks and uncertainties discussed under the caption "Risk Factors" and elsewhere in Nanogen’s Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen disclaims any intent or obligation to update these forward-looking statements.
For more information, please click here
Chief Financial Officer
Kelly Goodwin Gann
Copyright © Business Wire 2007
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Nanometrics Announces Upcoming Investor Events July 22nd, 2014
Harris & Harris Group Invests in UberSeq, Inc. July 16th, 2014
Harris & Harris Group Portfolio Company D-Wave Systems Closes a $28.4 Million Financing July 14th, 2014
Harris & Harris Group Continues Its Blog Series to Highlight Most Impactful Portfolio Companies With Produced Water Absorbents, Inc. July 9th, 2014
Researchers create vaccine for dust-mite allergies Main Page Content: Vaccine reduced lung inflammation to allergens in lab and animal tests July 22nd, 2014
NIST shows ultrasonically propelled nanorods spin dizzyingly fast July 22nd, 2014
SentiMag® Now Available in Australia and New Zealand July 21st, 2014
More than glitter: Scientists explain how gold nanoparticles easily penetrate cells, making them useful for delivering drugs July 21st, 2014
Deadline Announced for Registration in 7th Int'l Nanotechnology Festival in Iran July 23rd, 2014
A Crystal Wedding in the Nanocosmos July 23rd, 2014
Nano-sized Chip "Sniffs Out" Explosives Far Better than Trained Dogs: TAU researcher's groundbreaking sensor detects miniscule concentrations of hazardous materials in the air July 23rd, 2014
Penn Study: Understanding Graphene’s Electrical Properties on an Atomic Level July 22nd, 2014