Vion (formerly Oncorx) interesting play on Gene Therapy Message Board

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Biotech / Medical : Vion (formerly Oncorx) interesting play on Gene Therapy

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To: Jim Oravetz who wrote (104)	8/13/1998 12:32:00 PM
From: Jim Oravetz	Read Replies (2) of 370

Here is the latest news on Class B Stock: Vion Class B Conv Pfd Stk Hldrs To Convert Shrs To Cmn Stk Dow Jones Newswires NEW HAVEN, Conn. -- Vion Pharmaceuticals Inc.'s (VION) holders of Class B Convertible Preferred Stock agreed to convert their shares into Vion common shares, effective immediately. In a press release Thursday, Vion said investors will receive a total of 1.7 million common shares. Vion said the transaction was designed to minimize the potential dilutive effect which could have resulted from the prior structure of the Class B convertible preferred stock. After the conversion, the company will no longer have preferred stock with variable conversion rates. It will have 13.9 million common shares outstanding. Nasdaq-listed Vion shares recently traded at 3 1/4, down 3/16, on volume of 5,500 shares

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