Collagen Corp. completes stock repurchase program; board approves repurchase of additional 300,000 shares.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Nov. 28, 1994--Collagen Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CGEN CGEN Convective Sigmet Generation ) Monday announced that it has completed its most recent stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. authorization, approved by the board of directors last February. The board of directors authorized the repurchase of an additional 300,000 shares of common stock in the open market. Collagen Corp. has repurchased a total of 1.2 million shares, at an average acquisition price of approximately $22.50 per share, since the stock repurchase program was initiated in February 1993, reducing the total number of shares outstanding by more than 10 percent. ``The board's decision to authorize the repurchase of additional shares was made in view of the prices at which the company's common stock have been trading and underscores the board's continued confidence in the company's future,'' stated Howard D. Palefsky, president and chief executive officer of Collagen Corp. The company plans to retain the repurchased shares but may use a portion of the stock in various employee benefit plans. Collagen Corp. is a technology-based company that develops, manufactures and markets biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. devices for the treatment of defective, diseased, traumatized or aging human tissues. CONTACT: Collagen Corp., Palo Alto
David Foster, 415/856-0200
Edelman Public Relations
Matthew Harrington, 415/433-5381
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