Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : GZTC -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (576)	10/23/1998 12:10:00 AM
From: HIA	Read Replies (1) \| Respond to of 752

The 3.48 million shares is the maximum number of common shares that the preferred will convert into...the remaining preferred shares could be redeemed with cash... A shareholder vote could raise the maximum number of conversion shares...but that proposal would never be raised...only a proposal to approve the issue as written would be raised...(This is based on standard practice of other convertible issues...)... The "short provision" that is mentioned...simply refers to the common shares that the preferred holders receive...if and when they convert...and it just says that they may transact their common shares in any way that they choose... This issue is okay...it will increase the common shares by about 18%...in exchange for $20 million...and I expect that in a year or two Genezyme General will increase its holding...So I am planning on about 25 million shares total for a time frame of 3 to 5 years from now... Earnings per share? If rh ATIII becomes a commonly used product in by-pass surgery...say $400 million in annual sales...25% after-tax profit margin...half to genz and half to gztc...that's $50 million in annual income...divided by 25 million shares...for EPS of $2 a share!

To: Biomaven who wrote (576)	12/23/1998 10:43:00 AM
From: lwd	Read Replies (1) \| Respond to of 752

Tuesday December 22, 8:29 am Eastern Time Company Press Release SOURCE: Genzyme Transgenics Corporation Genzyme Transgenics Corporation to Increase Credit Facility to a Total of $24.6 Million FRAMINGHAM, Mass., Dec. 22 /PRNewswire/ -- Genzyme Transgenics Corporation (Nasdaq: GZTC - news) announced today receipt of a commitment from Fleet Bank to increase Genzyme Transgenics' credit facility by $15 million to a total of $24.6 million. The $24.6 million unsecured credit facility, which will be guaranteed by Genzyme Corp., will provide Genzyme Transgenics with additional capital to continue to meet its future growth objectives. The facility will include a $17.5 million operating line of credit and a $7.1 million capital line of credit which will be used to refinance the Company's existing $2.1 million farm financing and will provide $5 million in new funding for expansion of the Company's production facilities. In addition to the $24.6 million credit facility, Genzyme Transgenics Corporation also has received a commitment for a $5 million lease line of credit with Transamerica Technology Finance, a division of Transamerica Business Credit. ''Through these additional credit facilities, we will be able to finance near-term, strategic development activities, expand production facilities, and complete pivotal clinical trials with our lead product, recombinant human Antithrombin III,'' said Sandra Nusinoff Lehrman, M.D., Genzyme Transgenics' president and chief executive officer. ''By expanding our credit facilities by $15 million and adding a $5 million lease line, we have substantially strengthened the Company's financial position.'' Genzyme Transgenics Corporation applies transgenic technology to enable the development and production of recombinant proteins and monoclonal antibodies for medical uses. Primedica Corporation, Genzyme Transgenics' contract research organization, provides preclinical development and testing services to pharmaceutical, biotechnology, medical device and other companies. Genzyme Transgenics Corporation is also developing idiotypic vaccines in collaboration with the National Cancer Institute. Genzyme General owns approximately 41 percent of the outstanding common stock of Genzyme Transgenics. Genzyme General [Nasdaq:GENZ - news] develops and markets therapeutic and surgical products and diagnostic products and services. A division of the biotechnology and health care products company Genzyme Corp., Genzyme General has its own common stock intended to reflect its value and track its performance. The forward-looking statements contained herein reflect the current views of Genzyme Transgenics Corporation's management with respect to future events. These forward-looking statements are subject to certain risks and uncertainties, including the risk that the credit facilities will not close, that could cause actual results to differ materially from those in the forward-looking statements. SOURCE: Genzyme Transgenics Corporation