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Coley Pharmaceutical: Another Biopharma Collapse
Posted on 06/21/2007 17:47:04 | Link | Post Comment
by Douglas McIntyre
24/7 Wall St.
Coley Pharmaceutical Group (COLY) is yet another small-cap biopharma one-trick pony that fell apart like a cheap clock. Pfizer (PFE) had been conducting trials of a lung cancer drug licensed from Coley, and a review committee says test have been ineffective.
Trials will be discontinued. Coley lost $35 million last year on revenue of $20 million, and the bottom line has been that way for three years.
Continue article...
RELATED READING:
- Biotech Implosion: Allos Therapeutics
- Atherogenics Implodes as Heart Disease Study Fails
24/7 Wall St. is a regular contributor to BioHealth Investor
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24/7 Wall St.
Coley Pharmaceutical Group (COLY) is yet another small-cap biopharma one-trick pony that fell apart like a cheap clock. Pfizer (PFE) had been conducting trials of a lung cancer drug licensed from Coley, and a review committee says test have been ineffective.
Trials will be discontinued. Coley lost $35 million last year on revenue of $20 million, and the bottom line has been that way for three years.
Continue article...
RELATED READING:
- Biotech Implosion: Allos Therapeutics
- Atherogenics Implodes as Heart Disease Study Fails
24/7 Wall St. is a regular contributor to BioHealth Investor
____________
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