diaDexus, VaxGen to reverse-merge

Diagnostic company diaDexus Inc. (South San Francisco, Calif.) will reverse-merge with VaxGen Inc. (OTCBB:VXGN) in a stock deal. diaDexus shareholders will own 60.9% of the combined company, which will be known as diaDexus, with VaxGen shareholders owning the remaining 39.1%. The officers of diaDexus will continue as officers of the combined company, including diaDexus President and CEO Patrick Plewman. At Dec. 31, VaxGen had $32.3 million in cash and a 12-month operating loss of $7.6 million. The deal is expected to close next quarter. ...