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Tripos Shares Up 21 Percent on News It Will Sell Informatics Business

Nov 20, 2006
NEW YORK (GenomeWeb News) — Shares in Tripos were up 21 percent, or $.13, at $.74 in mid-afternoon trading after the company said it has found a buyer for its Discovery Informatics business.
 
As GenomeWeb News reported this morning, Tripos said it will sell the division to Venture for $26.5 million in cash and it said it expects to distribute between $6 million and $12 million to its shareholders when the sale closes.
 
The company stated last week it is looking to sell its Discovery Research business as well.
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