SAN DIEGO--(BUSINESS WIRE)--Nanogen, Inc. (Nasdaq:NGEN), developer of advanced diagnostic products, announced that it has filed with the Securities and Exchange Commission (SEC) a preliminary proxy statement for a special meeting of its stockholders. At the special meeting, the stockholders will be asked to approve a series of measures that the company believes will increase the financing alternatives available to it, including approval of the company’s debt financing in August 2007 and approval of an increase in the number of its authorized shares of common stock. Additionally, the company is seeking stockholder approval for the Board of Directors at their discretion during the next year to effect a reverse split of its common stock in order to improve trading of its stock and to maintain its listing on the Nasdaq Global Market. Details of these proposals will be included in the definitive proxy statement that will be mailed to stockholders.
