Cortecs adopts radical measures following increasing losses and plummeting share prices
This article was originally published in Clinica
Troubled UK biotechnology company Cortecs has announced a range of measures, including a strategy change, fundraising, a new name and a new chairman, aimed at revitalising its business. Over the past few years, the company has faced increasing losses and disappointing drug development results and seen its share price plummet from around 400p to just 16p. The company's share value fell 1p on the news. The announcement had little impact on the company's share price.