SiliconBeat

Genitope, the beleaguered Fremont biopharmaceutical that halted development of its experimental MyVax treatment for non-Hodgkin’s lymphoma last March after the Food and Drug Administration said at least one more clinical trial was needed, saw its largest shareholder sell off its 8.1 million stake in the company for $1 on Wednesday, according to a regulatory filing made today.

CPMG, the Dallas-based investment firm, said in a filing Friday that it sold all Read the rest of this entry »

Not that this is a shock, but Genitope, the beleaguered biotech that warned in May that it had only enough cash to continue operations through June 2008 and that it would be laying off all of its employees save its CEO, was told by Nasdaq that its shares would be delisted from its market next Monday, according to a press release it issued today. Worse, Nasdaq also “advised” Genitope that Read the rest of this entry »

Before it headed out for the Memorial Day weekend, Genitope — the Fremont biopharmaceutical company that halted development of its experimental treatment for non-Hodgin’s lymphoma in March after the Food and Drug Administration said at least one more clinical trial was needed — sent a filing to the SEC saying that it was in the process of writing down the value of its “long-lived assets,” which evidently had some value prior to the FDA’s decision but not so much after. Read the rest of this entry »

Poor Genitope. On Monday it announced it had halted development of its experimental MyVax treatment for non-Hodgkin’s lymphoma after the Food and Drug Administration said at least one more clinical trial was needed. Its CEO Dan Denney called the costs of further clinical development “prohibitive at this time.”

It’s shares lost 60 percent of their already reduced value the next day, closing at 23 cents. They fell 79 percent last year.

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