>>SUNNYVALE, Calif. and CAMBRIDGE, Mass., Jan. 28 /PRNewswire-FirstCall/ -- Hyseq Pharmaceuticals, Inc. (Nasdaq: HYSQ - News) and Variagenics, Inc. (Nasdaq: VGNX - News) today announced that they have received approval from their respective shareholders for the merger of the two companies. The companies anticipate closing the merger on January 31, 2003.
As a result of the merger, Variagenics shareholders will receive 1.6451 shares of Hyseq stock in exchange for each Variagenics share.
The combined company will be named Nuvelo, Inc. and will begin trading under its new name and Nasdaq symbol, NUVO, on February 3, 2003.
2002 Year End Results and Conference Call Information
Hyseq will announce its fourth quarter and 2002 results on February 24, 2003 and will hold a corresponding conference call at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss the year end results as well as the strategy and focus of the combined company, Nuvelo.<<
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Cheers, Tuck |
