Intrexon Responds to Short-Sellers’ Report

Funding & Investments
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April 27, 2016

Holders of Intrexon Corporation stock are watching their portfolios carefully in wake of the anonymous publication last Thursday of a short-seller report that alleges the company’s technology is less cutting-edge than it claims and that its revenues are exaggerated.On Friday, Intrexon countered, calling the report "materially false and misleading" and part of a hedge fund campaign to manipulate the company's stock and damage the reputation of the company and its CEO.On Monday, the law firm of Bronstein, Gewirtz & Grossman, LLC announced that, on behalf of Intrexon shareholders, it is investigating whether “Intrexon and certain of its officers and/or directors have violated the Federal Securities Laws under the Securities Exchange Act of 1934.”Through a suite of proprietary and complementary technologies, Intrexon designs, builds, and regulates gene programs, which are DNA sequences that consist of key genetic components. Among its technologies is an approach to counter the spread of the Zika virus by genetically modifying mosquitoes. This is among the technologies questioned by the short-sellers report.The Street has published an analysis highlighting some of the key issues mentioned in the report.

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