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TRANSGENOMIC,
INC.
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(Name
of Issuer)
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Common
Stock,
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(Title
of Class of Securities)
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89365K206
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(CUSIP
Number)
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December
31, 2007
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(Date
of Event Which Requires Filing of this
Statement)
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CUSIP
No 89365K206
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1
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NAME
OF REPORTING PERSON: BC Advisors, LLC
I.R.S.
Identification Nos. of above persons (entities only):
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2
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) o
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(b)
x
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3
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SEC
USE ONLY
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4
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CITIZENSHIP
OR PLACE OF ORGANIZATION
Texas
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NUMBER
OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON |
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5
6
7
8
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SOLE
VOTING POWER:
4,501,706
SHARED
VOTING POWER:
0
SOLE
DISPOSITIVE POWER:
4,501,706
SHARED
DISPOSITIVE POWER:
0
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9
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,501,706
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10
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
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o
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11
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.2%*
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12
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TYPE
OF REPORTING PERSON
HC/CO
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CUSIP
No 89365K206
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1
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NAME
OF REPORTING PERSON: SRB Management, L.P.
I.R.S.
Identification Nos. of above persons (entities only):
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2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
|
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(b)
x
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3
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SEC
USE ONLY
|
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4
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CITIZENSHIP
OR PLACE OF ORGANIZATION
Texas
|
|
|
NUMBER
OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON |
|
5
6
7
8
|
SOLE
VOTING POWER:
4,501,706
SHARED
VOTING POWER:
0
SOLE
DISPOSITIVE POWER:
4,501,706
SHARED
DISPOSITIVE POWER:
0
|
|
9
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,501,706
|
|
|
10
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
|
o
|
|
11
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.2%*
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|
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12
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TYPE
OF REPORTING PERSON
IA/PN
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CUSIP
No 89365K206
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1
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NAME
OF REPORTING PERSON: Steven R. Becker
I.R.S.
Identification Nos. of above persons (entities only):
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|
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2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
|
|
|
(b)
x
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|
3
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SEC
USE ONLY
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4
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CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States
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NUMBER
OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON |
|
5
6
7
8
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SOLE
VOTING POWER:
4,501,706
SHARED
VOTING POWER:
0
SOLE
DISPOSITIVE POWER:
4,501,706
SHARED
DISPOSITIVE POWER:
0
|
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9
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,501,706
|
|
|
10
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN
SHARES
|
o
|
|
11
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.2%*
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|
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12
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TYPE
OF REPORTING PERSON
HC/IN
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This
Schedule 13G relates to the common stock (“Common Stock”) of
Transgenomic, Inc., acquired by SRB Management, L.P., a Texas
limited
partnership (“SRB Management”), for the account of (1) SRB Greenway
Capital, L.P., a Texas limited partnership (“SRBGC”), (2) SRB
Greenway Capital (Q.P.), L.P., a Texas limited partnership (“SRBQP”) and
(3) SRB Greenway Offshore Operating Fund, L.P., a Cayman Islands
limited partnership (“SRB Offshore”). SRB Management is the general
partner of SRBGC, SRBQP and SRB Offshore. BC Advisors, LLC, a
Texas
limited liability company (“BCA”), is the general partner of SRB
Management. Steven R. Becker is the sole member of BCA. Each
of the
reporting persons hereby expressly disclaims membership in a
“group” under
Section 13(d) of the Securities Exchange Act of 1934 and the
rules and
regulations thereunder with respect to the shares of Common Stock
reported
herein, and this Schedule 13G shall not be deemed to be an admission
that any such reporting person is a member of such a
group.
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Item
1(a).
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Name
of Issuer: Transgenomic, Inc.
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Item
1(b).
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Address
of Issuer's Principal Executive Offices:
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12325
Emmet Street
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Omaha,
Nebraska 68164
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Item
2(a).
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Name
of Person Filing:
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See
Item 1 of each cover page.
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Item
2(b).
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Address
of Principal Business Office or if none, Residence:
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300
Crescent Court, Suite 1111
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Dallas,
Texas 75201
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Item
2(c).
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Citizenship:
See Item 4 of each cover page.
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Item
2(d).
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Title
of Class of Securities: Common Stock
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Item
2(e).
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CUSIP
Number: 89365K206
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Item
3.
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Not
Applicable
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Item
4.
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Ownership:
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(a)
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Amount
Beneficially Owned:
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As
of December 31, 2007 (“Reporting Date”), SRB Management was the beneficial
owner of 4,501,706 shares
of Common Stock for the accounts of SRBGC, SRBQP and SRB Offshore,
including 450,371 shares for the account of SRBGC, 3,884,224 shares
for
the account of SRBQP, and 167,111 shares for the account of SRB
Offshore.
As the general partner of SRB Management, BCA may be deemed to
be the
beneficial owner of the shares of Common Stock beneficially owned
by SRB
Management, and as the sole member of BCA, Steven R. Becker may
also be
deemed to be the beneficial owner of the shares of Common Stock
beneficially owned by SRB
Management.
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Percent
of Class: See Item 11 of each cover page.
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(c)
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Number
of shares as to which such person
has:
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(i)
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sole
power to vote or to direct the vote: See Item 5 of each cover
page.
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(ii)
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shared
power to vote or to direct the vote: See Item 6 of each cover
page.
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(iii)
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sole
power to dispose or to direct the disposition of: See Item 7 of
each cover
page.
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(iv)
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shared
power to dispose or to direct the disposition of: See Item 8 of
each cover
page.
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Item
5.
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Ownership
of Five Percent or Less of a Class:
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Not
applicable.
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Item
6.
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Ownership
of More than Five Percent on Behalf of Another Person:
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Not
applicable.
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Item
7.
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Identification
and Classification of Subsidiary Which Acquired the
Securities:
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Not
Applicable
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Item
8.
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Identification
and Classification of Members of the Group:
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Not
applicable.
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Item
9.
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Notice
of Dissolution of Group: Not applicable.
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Item
10.
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Certification:
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| BC ADVISORS, LLC | |
| By: |
/s/
Steven R. Becker
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Steven
R. Becker, Member
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| SRB MANAGEMENT, L.P. | |
| By: |
BC
Advisors, LLC, its general partner
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| By: |
/s/
Steven R. Becker
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Steven
R. Becker, Member
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| /s/ Steven R. Becker | |
| Steven R. Becker | |
| February 13, 2008 | |