Health and Healthcare
CombinatoRx, Maybe Not As Bad As It Looked
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CombinatoRx (CRXX) is still down in after-hours trading, but nowhere near the levels that it looked like the stock was trading at. The stock was initially down more than 20% after the news came out and before the stock was halted. Shares are actually down only about 3.3% now at $7.05 on what appears to be roughly 415,000 shares. Obviously this is not going to be under that $5.50 year low like this one was looking originally.
The good news, as noted, is that this company is not just a one-trick pony in the molecule land. The bad news is that this failed indication was for Rheumatoid Arthritis and there could have been a great addition in business if this would have worked out. Here is their full research pipeline: 
Sometimes these stock halts create some extra issues on their own, and that is what appears to have happened here on this one.
Jon C. Ogg
March 26, 2007
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