Skip to main content
Premium Trial:

Request an Annual Quote

MDRNA Plans Reverse Stock Split to Acquire Cequent, Changes Name


MDRNA said this week that its acquisition of Cequent Pharmaceuticals will go forward following a shareholder vote on the issue, and that it has also changed its name to Marina Biotech.

According to Marina, it will enact a 1-for-4 reverse stock split, which will enable it to have enough authorized shares to consummate the deal.

"The primary objective of the reverse split was to allow us to issue additional shares for the shareholder approved acquisition of Cequent," Marina CFO Peter Garcia said in a statement.

Earlier this year, MDRNA announced it would acquire Cequent for $46 million in stock (GSN 4/1/2010).

"The acquisition of Cequent is a critical cornerstone of our RNAi roll-up strategy," President and CEO Michael French added. "As Marina Biotech, we will have two complementary and proprietary RNAi drug discovery platforms."

The Scan

Fertility Fraud Found

Consumer genetic testing has uncovered cases of fertility fraud that are leading to lawsuits, according to USA Today.

Ties Between Vigorous Exercise, ALS in Genetically At-Risk People

Regular strenuous exercise could contribute to motor neuron disease development among those already at genetic risk, Sky News reports.

Test Warning

The Guardian writes that the US regulators have warned against using a rapid COVID-19 test that is a key part of mass testing in the UK.

Science Papers Examine Feedback Mechanism Affecting Xist, Continuous Health Monitoring for Precision Medicine

In Science this week: analysis of cis confinement of the X-inactive specific transcript, and more.