It was a bit inevitable perhaps that Ark Therapeutics would have to consider a sale when its novel gene therapy product Cerepro was stiff-armed by European regulators for the treatment of malignant glioma. Nonetheless, it clearly did not make investors happy today when Ark announced that it was withdrawing its appeal for a European marketing authorisation and entertaining offers for the company.
Ark's stock price was already at cash-per-share levels at close of trading yesterday, and dropped another 13% to 12p by mid-afternoon trading today. Executives said in addition to offers they were also considering how to best optimise various assets and technologies held by the company.
This content is written, edited and published by EP Vantage and is distributed by EvaluatePharma Ltd. All queries regarding the content should be directed to: news@epvantage.com
EP Vantage is a unique, forward-looking, news analysis service tailored to the needs of pharma and finance professionals. EP Vantage focuses on the events that will define the future of companies, products and therapy areas, with detailed financial analysis of events in real-time, including regulatory decisions, product approvals, licensing deals, patent decisions, M&A.
Drawing on EvaluatePharma, an industry-leading database of actual and forecast product sales and financials, EP Vantage gives readers the insight to make value-enhancing decisions.