Pharmos - Worst Pharma Stocks of 2007
Company: Pharmos
Starting stock price: $1.85
Ending stock price: $0.34
Percent Change: -81.62%
Details: In January of 2007 Pharmos announced that it's Phase II trial of cannabinor, an intravenous therapy for pain, failed to hit its primary endpoint. A separate test for relieving pain associated with molar dental extractions is still ongoing. The company announced that it cut its workforce in Israel by 15--down to 8--in an effort to restructures and conserve cash. Pharmos is also it's considering bringing in new investors to finance the subsidiary as an independent operation.
More News:
Pharmos cuts staff at Israeli subsidiary. Report
Pharmos pain drug fails in Phase II. Report
More stories about Pharmos
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