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News Breaks
February 5, 2014
06:04 EDTSFE, MYGNSafeguard Scientifics expects $40M from Crescendo sale to Myriad
Safeguard Scientifics (SFE) announced that its partner company, Crescendo Bioscience, signed an amended agreement to be acquired by Myriad Genetics (MYGN) for $270M, in cash, minus $25M for the repayment of a loan made to Crescendo by Myriad in 2011. The transaction is expected to close in the fiscal quarter ending March 31, 2014. Safeguard expects to receive approximately $40M in aggregate cash proceeds pending final closing calculations. Safeguard has deployed $11M in Crescendo since December 2012 and has a 13% primary ownership position. Stephen Zarrilli, CEO at Safeguard, said, "Safeguard begins 2014 with tremendous momentum, having recently announced exits transactions for Safeguard’s partner companies Alverix, Inc., NuPathe Inc., ThingWorx, Inc., and now Crescendo Bioscience. We continue to build a robust pipeline of new and exciting opportunities while we are equally focused on identifying well-timed exits to maximize value for our shareholders."
News For SFE;MYGN From The Last 14 Days
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November 27, 2015
10:44 EDTMYGNCMS may have made mistake with Myriad BRCA pricing, says Piper Jaffray
Piper Jaffray analyst William Quirk noted that the Centers for Medicare and Medicaid Services, or CMS, released the final 2016 Clinical Diagnostic Laboratory Fee Schedule yesterday, which showed Myriad Genetics' BRCA1/2 sequencing and full duplication/deletion analysis priced at $1,839.54, down from the $2,483.37 listed in the preliminary and final CLFS determination documents. Quirk said this may be an error and that he anticipates CMS to issue a correction and/or Myriad to file an appeal in the near-term. The analyst keeps an Overweight rating on Myriad shares.
November 23, 2015
05:36 EDTMYGNGenomic Health upgraded to Buy from Neutral at UBS
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November 19, 2015
07:19 EDTMYGNCMS decision a big positive for Myriad Genetics, says Stephens
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November 18, 2015
09:49 EDTMYGNCMS reversal removes 'huge overhang' for CareDx, says Mizuho
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08:27 EDTSFEThree Part Advisors to hold a conference
Southwest IDEAS Investor Conference is being held in Dallas, Texas on November 18-19 with webcasted company presentations to begin on November 18 at 8:20 am; not all company presentations may be webcasted. Webcast Link

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