In August 2015, Citron tweeted that we were buying shares of Intrexon (NYSE:$XON). Upon further due diligence we sold our Intrexon, as we found none of the company’s businesses to have any imminent viability. We should have updated our readers, but we had received almost no correspondence on the name after our tweet.
Citron wants its readers to note that we are not long shares of Intrexon, and we commend the work published on the name in a recent Seeking Alpha Commentary. We look forward to reading further commentary on Intrexon, as its businesses are too scattered with partners that Citron believes are not as they appear to be.
Lastly, what has bothered us about Intrexon is while the company has not been shy about going to investment conferences and selling stock offerings, they were never able obtain a smart money biotech shareholder. If they don’t get it, then we don’t get it. We look forward to reading more on the name.