Maxygen Announces $10 Million Stock Repurchase Program

Maxygen, Inc. MAXY, a biotechnology company, today announced that its Board of Directors has approved a new stock repurchase program under which the company may purchase up to $10.0 million of its common stock through December 31, 2012. Under its prior repurchase program, which expired at the end of 2011, Maxygen repurchased approximately 2.0 million shares of its common stock through September 2011 at an aggregate cost of approximately $11.0 million.