Iomai Corporation (IOMI) Shares Surge 117 Percent on $189M Buyout Offer by Intercell AG
Advances in biotechnological research have increased the development of vaccines used to strengthen immune systems from diverse clinical illnesses, constantly aiding in the reduction of pandemic diseases cases. About 1,000 companies comprise the rapidly
(EMAILWIRE.COM, May 14, 2008 ) BeaconEquity.com announces the publication of ‘Iomai Corporation (IOMI) Shares Surge 117 Percent on $189M Buyout Offer by Intercell AG’
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Iomai Corporation (IOMI) Shares Surge 117 Percent on $189M Buyout Offer by Intercell AG
Advances in biotechnological research have increased the development of vaccines used to strengthen immune systems from diverse clinical illnesses, constantly aiding in the reduction of pandemic diseases cases. About 1,000 companies comprise the rapidly growing U.S. biotechnology industry, having combined annual revenues close to $50 billion.
Iomai Corporation (IOMI), a biopharmaceutical company, engages in the discovery, development, and commercialization of vaccines and immune system stimulants delivered to the skin through a needle-free technology called transcutaneous immunization or TCI.
Shares of Iomai surged 117 percent in yesterday's trading as the company announced that vaccine maker Intercell AG offered a buyout deal of $189 million, or $6.60 per share. The stock more than doubled its Monday price of $2.92 per share to close at $6.34, an increase of $3.42, nearing the proposed buyout price by Intercell.
Per the agreement, Intercell will have full rights to the vaccine; Intercell plans to combine the acquired vaccine with its own treatment for Japanese Encephalitis to create a portfolio of immunizations for travelers.
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