After key clinical trials failed last year, troubled Tranzyme is seeking "strategic alternatives" for its business. On the table are potential options such as a merger or company sale--anything to bring value to shareholders.
Research Triangle Park, NC-based Tranzyme offered another bitter pill for its investors today. The biotech says it is discontinuing a Phase IIb study of its lead drug for diabetic patients suffering from gastroparesis after concluding that the treatment--TZP-102--failed to deliver the needed efficacy.
Tranzyme--named a Fierce 15 company back in 2005--has had a rough run these past two years. The company was forced to offer a big discount when it went public in 2011. And the failure of the GI drug program in the spring triggered a meltdown in its share price.
The Wall Street Journal offers its own bleak assessment of the biotech IPO market this morning, reviewing a string of disappointing offerings capped by Tranzyme's decision to cut its price from the
Demonstrating once again just how hazardous it is to launch a biotech IPO, Tranzyme Pharma ($TZYM) was forced to cut its share price from an $11-to-$13 range down to a mere $4 to get out on the
Research Triangle Park, NC-based Tranzyme Pharma said its drug TZP-101 for gastroparesis was effective in a mid-stage trial. Gastroparesis is an inability of the stomach to empty food efficiently,
With a Phase III trial scheduled for next year, Research Triangle Park, NC-based Tranzyme Pharma says it is now pondering three key avenues to go forward: partner the drug, raise $60 million from