VaxGen to Change After Anthrax Setback
VaxGen has had problems recently with the US government canceling the anthrax vaccine project.
They have sold their interest in Celltrion which operates a manufacturing plant in Inchon Korea for $51 million and now have about $96.6 million in the bank which should keep them going for a while depending on their burn rate. However, they are going to be taking a new direction and it will be interesting to see what they become and how they purpose to get there. However, as the article points out VaxGen is now 0 for 2 in their projects (their lead AID drug failed in Nov. 2003) meaning it will be hard to convince investors they have potential and are worth investing in.
Technorati Tags: vaccine, VaxGen
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