Biotech Values

[DewDiligence]

New option grants for GENR’s outside directors:

In new Form 4 SEC filings, four outside directors each received 10,000 new options at $4.65. The options expire in 10 years and are exercisable in 25% increments starting in 12/04.

The fifth outside director, Osagie Imasogie, did not receive new options today; Imasogie already received 20,000 options at an exercise price of $3.50 on 1/1/04. (It’s interesting that Imasogie received twice as many options as the other outside directors.)

Updated for the new grants, current holdings of directors and officers are as follows:


ROY LEVITT, CEO
109K shares
1.035M options at exercise prices of $0.40-$11.63

KENNETH HOLROYD, COO
39K shares
661K options at $0.40-$8.00

JOHN ARMSTRONG, EVP
No shares (recent hire)
100K options at $4.45

JOHN SKOLAS, CFO
No shares (recent hire)
100K options at $5.19

ANGELINE SHASHLO, SVP (Regulatory)
No shares
175K options at $0.40-$2.74

SHAPIRO ROBERT, Director
188K shares
100K options at $0.40-$11.63

ZOLA HOROVITZ, Director
29K shares
131K options at $0.40-$10.13

JAMES WYNGAARDEN, Director
5k shares
100K options at $0.40-$10.19

FRANK ECOCK, Director
40K shares
70K options at $0.40-$3.63

OSAGIE IMASOGIE, Director
No shares (recent appointment)
20K options