What do you think of MRNA's sale of its nasal delivery technology in April ?
On April 2, it announced that it had sold its Manufacturing Business to Par Pharmaceuticals and it was concentrating on its RNAi projects. According to its CEO, Michael French, "that agreement eliminates all of MDRNA's non-RNAi expenses and represents the final step in our plan to create a company solely focused in the research and development of RNAi-based therapeutics."
On August 3 it announced positive data on its UsiRNA, demonstrating that they are highly potent against metabolic disease and cancer targets in rodent models.
The data showed that the knockdown of these targets is achieved via an RNAi-mediated process and was presented at the IBC Drug Discovery & Development Week, Oligonucleotide Therapeutics: From Concept to Implementation, in Boston.
They said they were starting preclinical safety and efficacy studies in non-human primates,and that they were one of a handful of companies that had initiated non-human primate studies with a liposomal-based delivery system and were expecting to report positive data this quarter. <g>
They have been cutting their loss in the last 4Qs and on June 12, they announced the closing on its previously announced sale of 5.25M shares of common and warrants for gross proceeds of $10.5M (The shares were sold at $2 and the exercise price of the warrants is $2.38 with a 5 1/2Yrs term,and are exercisable by Dec 12.)
The H on the spike of June 9 was $3.55 <g>
bigcharts.marketwatch.com
I still have fond memories of RNAI<g>
But undecided about the general market's prospects for the remainder of the Yr.<g>
Bernard |
