Shares in Cadence Pharmaceuticals (CADX) are off as much as 50% on news that one of its drugs had failed in trials. According to Reuters "the biopharmaceutical company said one trial did not meet its main goal of significantly reducing pain following abdominal gynecologic surgery, while the other trial met its primary target of a significant reduction of fever."
The company loses about $10 million a quarter on no revenue. At the end of the third quarter it has $56 million in cash. Not much runway
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
