Myriad Genetics Inc. Splits, Creating its Subsidiary Myriad Pharmaceuticals Inc. (MYGN, MYRX)

June 17, 2009 · Filed Under General 

Myriad Genetics Inc. (Nasdaq: MYGN) has established the date for spinning off its subsidiary Myriad Pharmaceuticals Inc. which will be listed on the Nasdaq under the ticker symbol “MYRX”.
Shareholders of Myriad Genetics, Inc. will receive on June 30, 2009, a pro-rata dividend of 1/4 share of Myriad Pharmaceuticals, Inc. common stock for each share of Myriad Genetics, Inc. stock. Any fractional shares will be paid in cash.

It is anticipated that these shares will begin trading “when issued” on NASDAQ on or prior to the record date, with any trades settling within three days after the distribution date.

Myriad Pharmaceuticals will pursue development of unique, best-in-class therapeutic candidates in the areas of cancer and HIV. To facilitate the advancement of these research programs, Myriad Genetics will transfer $188 million to Myriad Pharmaceuticals.
Myriad Genetics Inc. closed on Tuesday down 0.66 (1.86%) with a final trade price of 34.82.
Joshua Sherman

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