Discovery Labs to explore "strategic alternatives"

Discovery Labs has retained Jefferies & Co. to explore various "strategic alternatives" for the company. The Warrington, PA-based company recently received orphan drug status for Surfaxin, a therapy for preventing lung disorder in premature infants. Options include "potential business alliances, commercial and development partnerships, financings, business combinations and other similar opportunities." Earlier this month its stock was hammered after Discovery announced it would pull its application for Surfaxin in Europe.

- read the report on Discovery Labs from StreetInsider.com