Sonus Shareholders Approve Merger With OncoGenex
Luke Timmerman8/20/08
Sonus Pharmaceuticals, (NASDAQ: SNUS) the Bothell, WA-based company that failed in an effort to develop a less toxic form of chemotherapy, said today its shareholders have approved a deal to merge with Vancouver, BC-based OncoGenex Technologies. The new company, to be called OncoGenex Pharmaceuticals, has applied to the Nasdaq to be traded under the symbol OGXI. The combined company board will have three representatives from each company, including Sonus CEO Michael Martino. Sonus shares fell 1 cent to 26 cents at 12:52 p.m. Eastern time after the announcement.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
