Sonus Pharmaceuticals, (NASDAQ: [[ticker:SNUS]]) the Bothell, WA-based company that failed in an effort to develop a less toxic form of chemotherapy, said today its shareholders have approved a deal to merge with Vancouver, BC-based OncoGenex Technologies. The new company, to be called OncoGenex Pharmaceuticals, has applied to the Nasdaq to be traded under the symbol OGXI. The combined company board will have three representatives from each company, including Sonus CEO Michael Martino. Sonus shares fell 1 cent to 26 cents at 12:52 p.m. Eastern time after the announcement.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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