This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Transcept Pharmaceuticals Announces That Largest Stockholder, Roumell Asset Management, Declares Support Of Company Strategies

POINT RICHMOND, Calif., Dec. 16, 2013 /PRNewswire/ -- Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT), a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the field of neuroscience, today announced that the company's largest stockholder, Roumell Asset Management, had publicly announced its support of the Transcept business strategies that Transcept outlined in its press release dated December 4, 2013.  In that regard, Roumell indicated that it would abstain from voting in the upcoming special meeting of stockholders scheduled for December 19, 2013, which was called initially at the request of Roumell. 

"We are very pleased that the Roumell team has moved to support our strategies to maximize stockholder value, and we appreciate the confirmation of that support in their actions regarding the December 19 special meeting of stockholders," stated Glenn A. Oclassen, Transcept President and Chief Executive Officer.

Transcept also announced that Matthew M. Loar has joined the board of Transcept as an independent director effective December 16, 2013, following his recommendation by Roumell.  Mr. Loar currently serves as Acting Chief Executive and Financial Officer of Neurobiological Technologies, Inc. (NTI) and has served on NTI's board of directors since NTI's stockholders approved a plan of voluntary dissolution in 2009. Over the past twelve years he has served as Chief Financial Officer for three publicly-traded biopharmaceutical companies: NTI, Osteologix, Inc. and Genelabs, Inc.; and one public-reporting biopharmaceutical company: Virolab, Inc. 

Mr. Oclassen stated further, "The addition of Matt Loar further enhances the Board's already strong pharmaceutical industry expertise, particularly given his financial background.  Matt brings a track-record of success and deep industry knowledge, and his viewpoint and advice will be important as we develop and pursue our strategic alternatives." 

About Transcept

Transcept Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of proprietary products to address important therapeutic needs in the field of neuroscience.  The company's lead development candidate is TO-2070, a novel, rapidly absorbed treatment for acute migraine incorporating dihydroergotamine (DHE) as the active drug which Transcept intends to develop through the completion of preclinical safety studies, but not including the initiation of a Phase 1 human pharmacokinetic study.  Preclinical data suggest that TO-2070 may offer significant migraine treatment benefits beyond those provided by less convenient and more invasive DHE drug delivery methods, such as injection, liquid nasal sprays or pulmonary inhalation. 

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs