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. 

New Majority Shareholder for Targacept

 

The Baupost Group LLC, a Boston, MA based hedge-fund became the largest shareholder in Targacept after purchasing 5.65 million shares giving it a 16.9% stake in the company.  Targacept's stock was trading between $6.89 and $7.79 during the time the transaction would have occurred putting the value of the transaction somewhere between $38.9 million and $44 million.  As with all smaller pharmaceutical companies, Targacept's stock price fluctuates dramatically based on the results of the clinical trials of its drugs:  the stock price has been as high as $30.42.  The investment by the Baupost Group LLC is vote a strong vote of confidence by a professional investment group.