MDRNA Sells Osteoporosis Drug
Luke Timmerman4/1/09
MDRNA, the Bothell, WA-based developer of drugs using RNA interference technology, said today it has sold its assets related to a nasal spray drug for osteoporosis to Par Pharmaceutical. MDRNA (NASDAQ: MRNA) will receive an undisclosed upfront cash payment, and a double-digit percentage royalty on sales of the product, a generic form of calcitonin-salmon nasal spray. MDRNA has been running low on cash, and it noted that Par will assume manufacturing and operating costs related to the drug.
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.
Jimmy T
4/5/09 10:49 am
Mrna has been running low on cash alright, has high debt, lower sales growth, a high burn rate, and there is no improved earnings in sight. Several recent deals are much needed financial relief but the question remains “how much longer can they continue like this and be a viable company, years from now?”
Especially if shareholders are nor privy, to up front money amounts, after deals are made.
After all, this company is in a financial mess to say the least!