Latest trial failure leaves OncoMed on the ropes as April slide nears 60%
They say it never rains but it pours, and for OncoMed Pharmaceuticals (Nasdaq: OMED) it has been more thunder and lightning than April showers this month with three damaging setbacks.
The US biotech’s share price has now dropped to $3.74, a decline of nearly 60% from the $9.24 value of the beginning of April, and chief executive Paul Hastings has admitted that the company is now seriously considering its options and available resources.
"Based on the events of today and last week, we will be undertaking a comprehensive portfolio prioritization review immediately"
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