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
Son
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