Skip to main content
Advertising

Originally published December 2, 2013 at 7:47 AM | Page modified December 3, 2013 at 6:23 AM

  • Share:
           
  • Comments (0)
  • Print

Seattle biotech’s going-public deal called off

The company through which Seattle-based Theraclone hoped to become publicly traded has called off their planned merger just a day before a vote to seal the deal.


By Seattle Times business staff

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

The company through which Seattle-based Theraclone hoped to become publicly traded has called off their planned merger just a day before a vote to seal the deal.

PharmAthene, a Maryland biotech, said Monday the two companies agreed to terminate the merger they announced in August. The pact, billed as a combination of equals, would have put Theraclone CEO Cliff Stocks at the helm of a public company based here.

Theraclone will receive $1 million in a termination payment from PharmAthene , according to a regulatory filing.

The biotechnology website FierceBiotech reports the abrupt ending of the deal comes “a few days after the feds left Seattle-based Theraclone Sciences high and dry of funds for its midstage study of an antiflu antibody.”

PharmAthene shares were down 1 cent after the news to $1.86, giving the company a market capitalization of $97 million.



News where, when and how you want it

Email Icon

The summer is wide open.

The summer is wide open.

Follow our three-part "Washington's National Parks" series running through August 10 for an in-depth look at some of our local treasures.

Advertising

Advertising


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►