Cortecs adopts radical measures following increasing losses and plummeting share prices
This article was originally published in Clinica
Executive Summary
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.
You may also be interested in...
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.
Beauty Firms Using AI-Based Tools Could Be Subject To Health Privacy Laws In US States
Using AI-based programs to collect and store consumer information risks running afoul of new health privacy laws cropping up in US states. Lack of federal regulation or guidance on the issue is one of the biggest challenges for beauty firms deploying AI, according to Stacy Marcus, partner at Reed Smith LLP.