Local Community Development Corporations

Tuesday, January 10, 2012

Tengion All-In in Winston-Salem

In November (prior post here) Tengion restructured (prior post here), eliminating over half their workforce in Pennsylvania and Winston-Salem.  Last week the company announced that it would move its corporate headquarters to Winston-Salem.  According to John Miclot, the new President and CEO the company named in December 2011, the move will allow the company to more efficiently focus its resources on advancing its two flagship products, the Neo-Urinary Conduit™ and Neo-Kidney Augment™.  A 58% gain in its share price over the last three trading sessions has followed the announcement of the move. 

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