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Antigenics buys back $11.8 million in convertibles
By Devika Patel
Knoxville, Tenn., Feb. 19 - Antigenics Inc. said it bought back $11.8 million of its convertible notes for $2.9 million in the fourth quarter of 2008.
The company recorded a gain of $8.6 million through the repurchase.
Annual interest expense will be cut by $600,000 thanks to the transactions.
New York-based Antigenics develops treatments for cancers, infectious diseases and autoimmune disorders.
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