Agennix views options, including partners or liquidation
Germany and USA-based drug discovery firm Agennix AG (FSE: AGX) has provided an update regarding strategic options and its activities to further conserve cash, which could include a liquidation of the company. The company continues to pursue strategic opportunities, including potential combinations with other life sciences companies.
Last year, Agennix saw its shares plummet 74% to 0.49 euros after reporting disappointing results from a Phase III trials with its investigational non-small cell lung cancer (NSCLC) drug talactoferrin alfa, calling into question the company’s future (The Pharma Letter August 9, 2012). The drug has previously bombed in the sepsis indication.
Agennix also is continuing to take steps to further conserve cash, including an additional staff reduction, as well as plans to de-list from the Prime Standard sub-section of the Frankfurt Stock Exchange and list on the General Standard of the regulated market.
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