Skip to main content
Premium Trial:

Request an Annual Quote

Combimatrix Files Plans to Split with Parent Acacia with SEC

NEW YORK (GenomeWeb News) – Combimatrix yesterday filed an S-1 form with the US Securities and Exchange Commission outlining its plans to split from parent company Acacia Research.
 
Currently a wholly owned subsidiary of the Newport Beach, Calif., firm, Combimatrix said in its SEC filing that it will no longer be an affiliate of Acacia after the split off.
 
Combimatrix will apply to list its common stock on the American Stock Exchange under the symbol CBMX. Each issued and outstanding share of Acacia Research-CombiMatrix common stock will be redeemed for a share of CombiMatrix stock.
 
Acacia’s board of directors voted to split off CombiMatrix last January.
 
The transaction was originally expected to close in the second quarter of 2006. Combimatrix did not provide an updated target date for the proposed spin-off in yesterday's filing.
 
In the filing, Combimatrix said that Acacia’s business “is significantly different than our business” and “includes significant patent litigation that, by its nature, creates financial risks not otherwise associated with the CombiMatrix group or our company following the redemption.”
 
The split off is expected to prevent those future risks from affecting Combimatrix, the company said.
 
Combimatrix said that no stockholder approval is required for the split off.
 
Shares of AR-Combimatrix common stock closed at $.80 yesterday.

The Scan

Dropped Charges

The US Justice Department has dropped visa fraud charges against five Chinese researchers, according to the Wall Street Journal.

More Kids

The Associated Press says Moderna is expanding its SARS-CoV-2 vaccine study to included additional children and may include even younger children.

PNAS Papers on Rat Clues to Human Migration, Thyroid Cancer, PolyG-DS

In PNAS this week: ancient rat genome analysis gives hints to human migrations, WDR77 gene mutations in thyroid cancer, and more.

Purnell Choppin Dies

Purnell Choppin, a virologist who led the Howard Hughes Medical Institute, has died at 91, according to the Washington Post.