Vion Pharma Weighs Sale Of Co To Raise Funds For Drug Trial
DOW JONES NEWSWIRES
Vion Pharmaceuticals Inc. (VION) said it is considering restructuring the
company and its debt, a sale of the company or its assets as well as financing
options to raise funds for a study of its cancer drug Onrigin.
If the development-stage drug maker is unable to raise the money, it may have
to limit or cease operations or liquidate its assets.
Vion hired the investment-banking firm Merriman Curhan Ford & Co. to help it
review strategic alternatives.
The company previously reported that the U.S. Food and Drug Administration's
cancer-drug advisory panel recommended Vion complete a randomized study of
Onrigin before the FDA approves it. Vion had presented data on Onrigin to the
committee.
Vion's shares, which were delisted from the Nasdaq Stock Market last year and
now trade over the counter, closed Monday at $1.09 and were inactive after
hours. The stock has more than tripled in the past year.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com
(END) Dow Jones Newswires
10-12-091635ET
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