Avant
One month after executing a 12-for-1 reverse stock split, Avant Immunotherapeutics Inc. reports that its common stock has resumed trading under the symbol "AVAN" on Nasdaq.
Since the first day of trading after the reverse split, Avant's stock had been trading under the symbol "AVAND." Avant performed the reverse stock split in an effort to stave off a pending delisting by Nasdaq because of the stock value trading below $1 for an extended period of time.
Late last week, the U.S. Food and Drug Administration approved a vaccine, marketed as Rotarix, which triggered a milestone payment of $750,000 from British drug giant GlaxoSmithKline PLC to Needham-based Avant cash advance.
Avant is focused on developing vaccines and targeted immunotherapeutics for the treatment of cancer, infectious and inflammatory diseases.
For 2007, Avant reported a net loss of $21.6 million on revenue of $5.1 million.
Filed under: money by Wolf