Sonus Pharmaceuticals, a Bothell, WA-based cancer drug developer, said today that a stock exchange hearings panel has allowed the company to hold onto its listing (NASDAQ: [[ticker:SNUS]]), as long as it meets certain conditions by Aug. 29. The company is implementing a reverse stock split, and is merging with Vancouver, BC-based Oncogenex Technologies. Sonus has been hammered since last year, when its lead cancer drug candidate failed in a clinical trial. The stock closed at 28 cents a share today.
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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