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HEADLINE: Biorad .....8/20/10-----Michael Gendreau, MD, Ph.D. and chief scientific/development officer is under turmoil from his purchase of Cypress Bioscience stock during the recent takeover bid from Ramius Corporation, a division of Cowan equity.
"Mr. Gendreau purchased Cypress Bioscience (CYPB) at a low of 2.14 a share just before the Ramius bid of 4.00 per share of CYPB stock." "This leads to serious concerns of the acquistion of BL-1020 from BioLineRX by Cypress and the fall out from share holders post purshase", noted from an official.
Cypress Bioscience has been trading between 3.80 and 3.84 since the takeover bid.
"Mr. Gendreau purchased Cypress Bioscience (CYPB) at a low of 2.14 a share just before the Ramius bid of 4.00 per share of CYPB stock." "This leads to serious concerns of the acquistion of BL-1020 from BioLineRX by Cypress and the fall out from share holders post purshase", noted from an official.
Cypress Bioscience has been trading between 3.80 and 3.84 since the takeover bid.