Athena, Genica Pharmaceuticals Corp. regulatory update

ATHN (South San Francisco) will acquire privately held Genica for up to 3.5 million shares of ATHN common stock, which closed Friday at $5.625. Genica, which has projected revenues of $8 million, develops and markets diagnostics for neurological diseases.

Genica, which ATHN intends to rename Genica Athena Neurosciences Diagnostics Inc., will continue to operate out of its headquarters in Worcester, Mass. ATHN said it does not intend to cut any of Genica’s 70 employees. Genica chairman Jack Davis will join ATHN’s board and Robert Flaherty will continue as Genica’s president and CEO. ...