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Nanogen Shares Surge 19 Percent on News That Fisher Bought 9-Percent Stake in Company

NEW YORK, March 16 (GenomeWeb News) - Shares of Nanogen were up 19 percent, or $.47, at $2.99 in afternoon trade following Fischer's announcement it had paid $15 million in cash for a 9-percent stake in the company.

 

As GenomeWeb News reported, terms of the investment calls for Fisher to buy approximately 5.7 million shares of Nanogen common stock at $2.65 per share, a 5-percent premium over the stock's closing price yesterday.

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