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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (392)	8/30/2001 2:10:15 PM
From: tuck	Read Replies (1) \| Respond to of 1005

Some financing news from one BLUE H's basement dwellers, VLGC: >>SOUTH SAN FRANCISCO, Calif., Aug. 30 /PRNewswire/ -- ViroLogic, Inc. (Nasdaq: VLGC - news) today announced its shareholders have approved private placements expected to bring a total of $16.25 million in gross proceeds to the Company. The first portion closed on July 2nd, with the Company receiving $6.65 million in proceeds. The balance of $9.6 million was subject to this shareholder approval and certain other contingencies. The Company expects the remaining contingencies, including approval by the Securities and Exchange Commission of its recently filed Registration Statement, to be met and the second installment to be received in early September. UBS Warburg and CIBC World Markets served as advisors for this transaction. ViroLogic expects to use the net proceeds from this financing to support and enhance ongoing commercial activities, accelerate research and development of new products, and for general administrative expenses, capital expenditures and working capital. ``We are pleased that our shareholders have approved the financing, which significantly strengthens our balance sheet,'' said Bill Young, ViroLogic's Chairman and CEO. ``It comes at a great time as we step up our efforts in the field to continue to increase sales as we have over the last two quarters and prepare new products for commercialization later this year. In addition, we expect the proceeds will fund development of our pipeline focused on patient management and drug development assays for hepatitis B and C.'' About ViroLogic ViroLogic is a biotechnology company advancing the fields of individualized medicine and pharmacogenomics, helping to make them realities in healthcare around the world today. The Company discovers, develops and markets innovative products to guide and improve treatment of serious viral diseases such as AIDS and hepatitis. Its leading expertise in virology, molecular biology, clinical research, engineering, information systems, and quality assurance has resulted in technology to assess drug resistance and susceptibility in viruses that cause these diseases, which affect millions of people worldwide. The Company's current products are designed to optimize HIV/AIDS treatment regimens, providing physicians with important information to help select appropriate drugs for their patients and leading to better outcomes and reduced costs. These products are also being used by major pharmaceutical companies to develop new and improved antiviral therapeutics targeted at emerging drug-resistant viruses.<< snip BLUE H candidate AMEV has ties to MEDI, and its insider trading seems to reflect the "no news is bad news" in the spring to the good news that MEDI actually is making progress on the compounds in which AMEV has an interest. Buying at these levels in July. Not much buying, but buying nevertheless. insidertrader.com Cheers, Tuck