Sonus (SNUS) Gets Slaughtered

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Sonus Pharmaceuticals (SNUS) said that its drug candidate Tocosol Paclitaxel failed in a late-stage study aimed at treating breast cancer, according to AP.

The company was trashed by investors, who moved it down 85% at the open to $.65. The stock has a 52-week high of $6.32.

The company has always been a long shot. Last quarter, it lost $6.6 million on revenue of $3.3 million. But, the company had a market cap well over $200 million.

Not anymore.

Douglas A. McIntyre