Allozyne Inks Reverse Merger with Cash-Strapped Poniard
By Jennifer Boggs
Friday, June 24, 2011
Reverse mergers, which had dropped in status as the initial public offering (IPO) window creaked open for biotechs in the past year, look to be making a comeback, if the recent spate of deals is any indication. The latest deal has private firm Allozyne Inc. merging with struggling public biotech Poniard Pharmaceuticals Inc. in a stock-for-stock transaction.
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