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,Â 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.
Pharmos cuts staff at Israeli subsidiary. Report
Pharmos pain drug fails in Phase II. Report