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Business briefs.

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Telegram & Gazette

Bloomberg Index

Central Massachusetts



Volume: 94,851,929

Up: 11

Down: 16

Unchanged: 6

Gainer: Waters Corp. $62.53 +$2.51 (volume of 1.4 million shares)

Decliner: American Superconductor Corp. $22.49 -$4.28 (volume of 1.6 million shares)


Shares at $16

SOUTHBORO - Double-Take Software Inc. announced yesterday the pricing of its public offering of shares at $16 per share, before underwriting discounts and commissions. The offering is expected to close on Wednesday. The 2.79 million shares in the offering comprise 100,000 shares being sold by the company and 2.69 million shares being sold by stockholders of the company. Total net proceeds to the company will be approximately $1 million. Double-Take will receive no proceeds from the sale of stock by existing shareholders.

Suit settlement

Genzyme Corp. Thursday agreed to pay $64 million to settle a class-action lawsuit brought by shareholders after the consolidation of two tracking stocks in 2003. The settlement would allow dismissal of the case in federal court in New York, the Cambridge-based biotechnology company said in a statement. The payment would go to a class of shareholders who held Genzyme Biosurgery stock on May 8, 2003. Genzyme has a diagnostics division in Westboro.

$6.2M loss

LOS ANGELES - Biotechnology company CytRx Corp. reported a second quarter net loss of $6.2 million, or 7 cents per share, for the period ended June 30. This compares with a second quarter 2006 net loss of $5.5 million, or 8 cents per share. CytRx has a subsidiary, RXi Pharmaceuticals Corp. of Worcester.

Shares sold

MARLBORO - Three officers of Cytyc Corp. sold shares of company stock this week, according to a company filing with the U.S. Securities and Exchange Commission. John P. McDonough, vice president of corporate development, sold 10,717 shares Tuesday at $43.10. He retains 2,933 shares, directly held. A. Suzanne Meszner-Eltrich, vice president and corporate counsel, sold 10,000 shares Tuesday at $43.10. She retains 23,538 shares, directly held. Timothy M. Adams, chief financial officer, acquired 10,000 shares Monday at $26.10 a share and sold them the same day at between $42.93 and $43.01 per share. (The Washington Service)

Meeting scheduled

WORCESTER - The WPI Venture Forum will hold a meeting at 6:30 p.m. Sept. 11 in the Worcester Polytechnic Institute's Campus Center - Odeum Room. Patrick J. Larkin, director of the John Adams Innovation Institute economic development division of the Massachusetts Technology Collaborative, will discuss economic strategy. The evening's case presentation will be by Paul Kateman, founder of Taunton-based MooBella Inc.
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Title Annotation:BUSINESS
Publication:Telegram & Gazette (Worcester, MA)
Date:Aug 11, 2007
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