Hit hard by investors after its leukemia drug Atragen was rejected the Food and Drug Administration, struggling biopharmaceutical firm Aronex Pharmaceuticals Inc. has hired Robertson Stephens to help it evaluate strategic alternatives. On Feb. 2, the day of the strategic alternatives announcement, stock of The Woodlands, Texas-based Aronex rose six cents to $1.31. At press time it was at $1.30. For perspective, on Jan. 8, the day the FDA denied Atragen approval, Aronex’s stock plummeted from $4.56 to $1.21. Along with the strategic alternatives news, the nearly $40 million market cap company said it was cutting its work force from 81 to 29.
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