Troubled Oxford BioMedica has been roiled by several twists and turns in the last few days. Last week, newly named CEO Mike McDonald departed after only a month in the top job. That sent company shares down. And yesterday the stock slid again when GeneThera announced that it was no longer interested in bidding for the company. Oxford BioMedica had rejected Genethera's overtures, saying the takeover attempt lacked credibility.
The developer has been reeling since it announced in July that its cancer vaccine TroVax failed a clinical trial for kidney cancer. The new acting chief executive, John Dawson, says the company is now seeking acquisitions to bolster its pipeline.
- read the report from RTT News
- check out the report from the Times