3 Executives Leaving Company, VaxGen Says
From Bloomberg News
VaxGen Inc., the maker of an HIV vaccine that failed in studies, said company President Donald Francis and two other executives would leave to form a nonprofit AIDS vaccine foundation.
Francis and two senior vice presidents, Phillip Berman and Carter A. Lee, will leave the company to work on an HIV vaccine for developing nations, Brisbane, Calif.-based VaxGen said.
The company made the announcement after U.S. markets closed. Earlier, VaxGen’s shares gained 81 cents to $10.30 on Nasdaq.
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