CellCyte Settles SEC Investigation
Luke Timmerman5/18/09
CellCyte Genetics, the Bothell, WA-based biotech company, has tentatively agreed to a settlement of a yearlong investigation by the Securities and Exchange Commission. The company entered a consent decree in which it will neither admit nor deny any wrongdoing, according to its annual report. The company hasn’t disclosed the nature of the investigation, although its stock price briefly topped $7 in December 2007, and now is worth six cents, according to this report in The Seattle Times.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
