Biotech, cancer, Life Sciences

Sonus Pharmaceuticals Holds On To Nasdaq Listing

Luke Timmerman 7/17/08

Sonus Pharmaceuticals, a Bothell, WA-based cancer drug developer, said today that a stock exchange hearings panel has allowed the company to hold onto its listing (NASDAQ: SNUS), as long as it meets certain conditions by Aug. 29. The company is implementing a reverse stock split, and is merging with Vancouver, BC-based Oncogenex Technologies. Sonus has been hammered since last year, when its lead cancer drug candidate failed in a clinical trial. The stock closed at 28 cents a share today.