deCODE demoted
I have something to tell you about deCODE--there's good news and there's bad news.
First, for the good news: today deCODE announced that it has filed an IND with the FDA for a new drug on cognition designed to combat memory loss and the other effects of Alzheimer's disease. The compound DG071 has shown promise in animal models and while it doesn't rebuild or restore neurons, it aims to "llow the remaining neurons to store and retrieve memories more efficiently".
Now, for the bad news: Nasdaq announced that deCODE was given a slap on the wrist for falling below the minimum value of common stock being traded (that minimum being a mere $50 million) nor is the company worth enough overall to continue being listed on Nasdaq's Global Market. deCODE has 30 days to rake in the big bucks or it's out of the Nasdaq Global Market and will fall to the Capital Market.
Looks like this drug had better be a blockbuster.
Summer Johnson, PhD
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Yeah, I suppose $50 million is not much in the day of £250 billion & $700 billion fundings
- by exogen on Oct 8, 2008 at 12:30 PM | link