CRGN--CuraGen Corporation- Penny Stock- Biotechnology - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

**greencat** · #1 04-30-2008, 06:25 PM

setting up and I will be watching it. It may be setting up for a nice run. resistance at .96 Lower lows-higher highs with room to move.

CuraGen Corporation, a biopharmaceutical development company, develops novel protein, antibody, and small molecule therapeutics for the treatment of cancer and cancer supportive care, as well as for inflammatory diseases and diabetes in the United States. Its product portfolio comprises oncology and non-oncology drugs. The company's oncology drugs include Velafermin, a protein therapeutic in Phase II development stage for cancer supportive care, as well as for the prevention and treatment of oral mucositis in cancer patients; Belinostat (PXD101), a novel histone deacetylase inhibitor for the treatment of solid and hematologic cancers, which is in a Phase II clinical trial in patients with multiple myeloma and two Phase I trials in patients with advanced solid tumors and hematological malignancies; and CR011, a human monoclonal antibody in Phase I development stage for the treatment of metastatic melanoma. Its oncology drugs also comprise CR014 and CR012, human monoclonal antibodies in preclinical stage for the treatment of colorectal and ovarian cancers, and renal cell carcinoma. The company's non-oncology drugs consist of CR002, human monoclonal antibody for the treatment of kidney inflammation and to prevent or slow the progression of IgA nephropathy toward kidney failure; BAY 76-7171, an investigational small molecule drug for the management of adult-onset (type 2) diabetes; and PXD118490, a preclinical histone deacetylase (HDAC) inhibitor for the treatment of psoriasis and other dermatological disorders. CuraGen has strategic collaborations with Amgen Fremont, Inc. to generate human monoclonal antibody projects; TopoTarget A/S to access small molecule HDAC inhibitors; and Seattle Genetics, Inc. to access antibody-drug conjugate technology, as well as with Bayer Pharmaceuticals to identify and develop drugs for the treatment of diabetes. The company was founded in 1991 and is headquartered in Branford, Connecticut.

**greencat** · #2 05-14-2008, 10:08 AM

BRANFORD, Conn., May 14, 2008 /PRNewswire-FirstCall via COMTEX/

-- CuraGen Corporation (CRGN) announced today the completion of a series of privately negotiated transactions with holders of the Company's 4% Convertible Subordinated Notes due February 2011 (the "2011 Notes") in which the Company retired a total of $50.9 million of the 2011 Notes for an aggregate purchase price of $43.2 million, reflecting an aggregate discount of approximately 15.1% off of face value.

CuraGen currently has approximately $100 million or $1.72 per share, in cash and investments on hand, and has $19.0 million of the 2011 Notes outstanding. With the completion of these transactions, CuraGen will eliminate a total of approximately $5.6 million in interest payments on the 2011 Notes to maturity. The Company now anticipates ending 2008 with cash and investments of approximately $92 million, or $1.59 per share.

"Our planned, systematic strengthening of CuraGen's balance sheet continues with these latest transactions, which have increased our net cash position by approximately $8 million," stated Dr. Timothy Shannon, President and Chief Executive Officer of CuraGen Corporation. "Over the past 16 months, we have increased our net cash position by approximately $87 million, while eliminating over $157 million in debt and over $40 million in annual operating and interest expenses. We believe we are well capitalized with over $100 million to develop our un-partnered antibody drug conjugate, CR011-vcMMAE, in metastatic melanoma and breast cancer and to explore other potential near-term value creation opportunities." About CuraGen