Intrexon Provides Update On Recent Stock Trading Activity
GERMANTOWN, Md., April 22, 2016 /PRNewswire/ -- Intrexon Corporation (NYSE: XON), a leader in synthetic biology, provided an update to its shareholders regarding recent trading activity in the company's common stock. On Thursday, April 21, 2016, a materially false and misleading report regarding the company, its subsidiaries and its chairman and CEO was published on Seeking Alpha, a financial blog.
Intrexon does not, as a general matter, respond to blog posts, investor reports or analyst communications. In this case, however, Intrexon is providing this update given the inaccuracy of the report's content, the stated intent of the publisher to issue several more spurious reports in the coming days, and information received last night regarding the erroneous publication.
Yesterday evening, Intrexon received a draft report, dated December 2015, which contained similarly inaccurate claims and strikingly similar language, in some parts identical words, to that used in yesterday's report. Moreover, Intrexon received information that the source of the report was a particular hedge fund seeking to discredit Intrexon. The hedge fund, according to our information, desired to take a short position in the company's stock, was seeking a willing publisher of its report on the company, and intended to benefit from trading activity caused thereby.
Based on this information, Intrexon believes that it is the target of a campaign to manipulate trading in the company's securities, interfere with the company's business operations, and destroy the reputation of the company and its chairman and CEO. Intrexon, with the advice of counsel, is taking appropriate steps in light of these developments. In the meantime, we wish to assure our investors, collaboration partners, and employees that the company remains dedicated to advancing our business and to generating value for our shareholders.
About Intrexon Corporation
Intrexon Corporation (NYSE: XON) is Powering the Bioindustrial Revolution with Better DNA to create biologically-based products that improve the quality of life and the health of the planet. The Company's integrated technology suite provides its partners across diverse markets with industrial-scale design and development of complex biological systems delivering unprecedented control, quality, function, and performance of living cells. We call our synthetic biology approach Better DNA®, and we invite you to discover more at www.dna.com or follow us on Twitter at @Intrexon.
Trademarks
Intrexon, Powering the Bioindustrial Revolution with Better DNA, and Better DNA are trademarks of Intrexon and/or its affiliates. Other names may be trademarks of their respective owners.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
For more information contact:
Corporate Contact:
Marie Rossi, Ph.D.
Senior Manager, Technical Communications
Tel: +1 (301) 556-9850
publicrelations@intrexon.com
Investor Contact:
Christopher Basta
Vice President, Investor Relations
Tel: +1 (561) 410-7052
investors@intrexon.com
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SOURCE Intrexon Corporation
