VaxGen plans to relist shares

South San Francisco biopharmaceutical firm VaxGen Inc. (Pink sheets: VXGN) said it is now current on its financial reporting obligations with the U.S. Security and Exchange Commission and plans to relist its common stock on a nationally recognized stock exchange.

VaxGen has suffered a series of setbacks.

The company, which suffered a well publicized failure of an AIDS vaccine it was developing in 2003, was delisted from the Nasdaq exchange in 2004 for failing to promptly file financial reports with federal authorities as required. It then lost a U.S. government contract to provide an anthrax vaccine in December 2006 after missing a key deadline.

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