MONTREAL — Medical technology developer Haemacure Corp. (TSX:HAE) says it has received notice that it will be delisted from the Toronto Stock Exchange at the close of market on Feb. 5.
The company said Wednesday that the delisting results from its failure to meet the TSX’s continued listing requirements related to its financial condition.
Haemacure said it doesn’t intend to appeal the decision “in light of its financial condition.”
Last summer, the Montreal-based company entered into a strategic collaboration with Angiotech Pharmaceuticals Inc. (TSX:ANP), which will provide Angiotech with license, distribution and supply rights related to Haemacure’s all-human fibrin sealant and thrombin products, for use in surgeries and other medical procedures.
Haemacure said at the time that US$2.5 million in bridge financing to be advanced by Angiotech would allow it to continue operations until the end of calendar 2009.
Shares of Haemacure gained half a cent or 50 per cent to 1.5 cents in Wednesday trading on the TSX.
Thursday, January 7, 2010
Jan 6 (Reuters) - Biotechnology firm ZymoGenetics Inc (ZGEN.O) said it will sell 12 million common shares in a public offering. Shares of the company fell 11 percent to $6.00 in trading after the bell. The proposed offering amounts to about 17 percent of the company's total outstanding shares of about 69.3 million as of Oct. 30, 2009. The company plans to grant underwriters an over-allotment option to purchase up to an additional 1.8 million shares. A portion of the net proceeds from the offering will be used to support the commercialization of its synthetic blood-clotting enzyme Recothrom, the company said in a statement.