HCOR.pk (.0002) AIDS drug maker likely seeking a buyer: Trimeris struggling after disappointing sales of Fuzeon [The News & Observer, Raleigh, N.C.]
Tuesday, February 12 2008 - 6:11
HCOR $0.0002 $0 (%0)
Feb. 12--Little doubt remained Monday that Trimeris, once one of the Triangle's most promising young biotechnology companies, is for sale.
The Morrisville company, which has struggled since its AIDS drug fell short of expectations, said it had fulfilled a request by its largest investor, HealthCor Management, and appointed two of the firm's founders to the Trimeris board of directors.
HealthCor, which owns nearly 18 percent of Trimeris, has agitated for months that Trimeris be sold.
"The question is, are they going to find somebody to buy the company," said Sharon Seiler, an analyst with Punk Ziegel who has tracked the AIDS drug company for years.
The appointments of Arthur B. Cohen and Joseph P. Healey were a response to a Feb. 1 letter that HealthCor filed with the Securities and Exchange Commission. In the letter, HealthCor expresses concern that Trimeris might decide to make an acquisition rather than put itself up for sale.
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This info is not to be construed as a solicitation to buy/sell securities. Hdogtx reserves the right to either BUY/SELL shares in a company's stock he mentions.
