Business briefly
Published 9:00 pm Wednesday, February 2, 2005
Northwest Biotherapeutics, whose stock has languished below 10 cents a share since last spring, saw its shares rocket from 7 cents to 33 cents on Wednesday. The 378 percent increase came one day after the Bothell company said it is restarting clinical trials for its anti-cancer treatments. It also recently released details of its funding plan, which could bring in up to $40 million from a venture capital fund.
FDA slows down Xcyte drug trials
Xcyte Therapies Inc. has delayed an important clinical trial of its special cancer-fighting cells after the Food and Drug Administration requested more discussion about how the phase 2 trial will be done. Seattle-based Xcyte recently outfitted a 20,000-square-foot facility in Bothell to create enough Xcellerated T cells for the trial. The company still is scheduled to meet later this month with the FDA to talk about transferring its manufacturing operations to Bothell.
Pay ‘excessive’ for ex-NYSE chief
Richard Grasso had too much control in setting his controversial $187.5 million compensation as chairman of the New York Stock Exchange and took advantage of personal connections with board members to push it through, the NYSE claimed in a previously confidential report released Wednesday. The result, according to the report, was “excessive” and “unreasonable” compensation for Grasso, 58, who left his job amid the pay controversy.
State’s banking regulator resigns
Helen Howell has resigned as director of the state Department of Financial Institutions. In a statement, Gov. Christine Gregoire called Howell “a champion of Washington’s consumers.” Howell, who had been Gov. Gary Locke’s deputy chief of staff, was promoted to the top state banking post in 2002.
Microsoft offers cyberthreat alerts
Microsoft Corp. offered Wednesday to begin alerting the world’s governments early to cyberthreats and security flaws in its attack-prone software. Microsoft also wants to work with governments to help prevent and mitigate the damage from hacker attacks, said Giorgio Vanzini, director of Microsoft’s government engagement team. Microsoft already provides the U.S. government with early warnings. Vanzini said extending the program aims to protect critical infrastructure, given that major Internet attacks can affect national security, economic stability and public safety.
From Herald staff
and news services
