Maxygen Inc. (MAXY)

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Maxygen plans $10M stock repurchase
Silicon Valley / San Jose Business Journal
Date: Tuesday, May 31, 2011, 2:40pm PDT

Maxygen Inc.bizWatch said Tuesday it plans to repurchase up to $10 million of its common stock through the end of the year.

Since December 2009, Redwood City-based Maxygen (NASDAQ:MAXY) has bought back about 10 million shares for about $54.1 million.

Last month Maxygen received $76 million in cash from Astellas Bio Inc. for the purchase of Maxygen’s equity interests in Perseid Therapeutics LLC, a former majority-owned subsidiary of Maxygen.

Maxygen also remains eligible for a payment of up to $30 million from Bayer HealthCare LLC related to the sale of hematology assets to Bayer in July 2008