Neurobiological Technologies fades to black

Poisoned by the late-stage failure of its venom-based stroke drug late last year, Neurobiological Technologies says it will close up shop and dissolve the company. The developer had $24 million on hand at the end of the first half, but after Viprinex flunked a late-stage trial in December the biotech laid off most of its staff and went hunting for a buyer. With no buyer stepping forward, Neurobiological says it will hand out its remaining cash to shareholders. Release | Report