CombiMatrix was born just 11 years ago, but its apparently ready to face the big, bad world without a parent.
Acacia Research Corp., the California company that owns CombiMatrix, announced today that it will spin off the Mukilteo biotechnology firm within the next six months. CombiMatrix already has its own tracking stock, which will just be converted to its trading stock once it is set free from Acacia.
That tracking stock, by the way, has not done too well. It has struggled below $2 a share, closing Monday at $1.67 a share. At that price, CombiMatrix’s market value is just over $65 million.
If you’re not familiar with CombiMatrix, check out (shameless plug alert) my story from December: http://www.heraldnet.com/stories/05/12/05/100bus_virus001.cfm
The company also can be found online at www.combimatrix.com and www.cmdiagnostics.com.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
