Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > Nanogen Receives Final Stockholder Approval on Debt Financing

Abstract:
Nanogen, Inc. (Nasdaq: NGEN) announced today that it has received stockholder approval on the third of the three proposals presented at its special meeting of stockholders on February 1, 2008. During the special meeting, stockholders approved two of the proposals but insufficient votes were obtained to approve Proposal #1, in which the board of directors was seeking approval to ratify the company's debt financing of August 2007. Accordingly, the meeting was adjourned until February 11th to provide shareholders with additional time to vote on the proposal. Today the company announced it has received the necessary votes to approve this proposal.

Nanogen Receives Final Stockholder Approval on Debt Financing

San Diego, CA | Posted on February 13th, 2008

As stated in the February 1st announcement, approval of all three proposals is an important component of the company's restructuring activities and will provide the company with increased financing flexibility until positive cash flow is achieved. The company expects to achieve cash flow breakeven in late 2008 based on its current revenue and expense projections for the year.

####

About Nanogen, Inc.
Nanogen (Nasdaq: NGEN) has a strong product and proprietary technology base of diagnostic solutions for two of the fastest growing in vitro diagnostic (IVD) markets—molecular diagnostics and rapid point-of-care testing. The company provides their innovative, high-quality diagnostic products to clinicians and physicians worldwide, making it easier to predict and diagnose diseases, ultimately improving patient care. Products include molecular diagnostic kits and reagents, and kits for rapid, point-of-care testing. Nanogen has pioneered research in areas involving biomedical markers, molecular biology and nanotechnology to bring better results to diagnostics and healthcare. For additional information please visit Nanogen’s website at www.nanogen.com.

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, anticipated cash flow, delisting from the NASDAQ Global Market, whether patents owned or licensed by Nanogen will be developed into products, whether the patents owned by Nanogen offer any protection against competitors with competing technologies, 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

Contacts:
Nanogen, Inc.
Rob Saltmarsh, Chief Financial Officer, 858-410-4600
or
Kelly Gann, Marketing Communications, 858-410-4667

Copyright © Business Wire 2008

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

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

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

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

Harris & Harris Group Portfolio Company HZO Raises $20 Million in Growth Financing July 1st, 2014

Nanomedicine

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

Announcements

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

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE