What is the old saying, if you don’t have your health, you don’t have anything? Well I think this still holds true but we will find out what view Congress takes it appears. Are cars more important than good health? Just today, another Biotech company received their Nasdaq warning letter.
“NEW YORK (GenomeWeb News) – Monogram Biosciences has received a staff deficiency letter from the Nasdaq Stock Market indicating that the firm failed to comply with a listing requirement regarding the market value of its stock.”
Here’s another example below, it takes money to keep R and D going and without it, we lose valuable research and cures as well as treatment plans. It is also getting harder to obtain grants from the NIH. Problem here is that we have colliding worlds of both clinical information and use with Science. The system on gambling on a company producing an award winning drug has changed as more information has become available, so do we change to accept this fact? Something to think about.
It has changed the entire way Venture Capital thinks regarding healthcare too, with much of the money there becoming harder to secure. They too have more information to review before plunking a few million down as they want a return on their investment, but again with the expense of bringing new drugs and biotech technology to the market, the money needs to be there, otherwise it goes overseas.
Thank goodness there are charity organizations stepping up to the plate to help, like the Hughes Medical Institution and efforts from groups like “Stand Up for Cancer” jumping in to help, but they can only go so far.
When things all shake out, I guess we will all see the reality of how human life is valued in the US today, and whether or not we can for a short time dismiss ourselves from risk management and cost as the number one priority. Healthcare and IT leaders are all headed in the right direction for sure, now it appears we will see what our leadership is made up of in the upcoming months.
It just still comes back to the nasty task of catching up with the Jones with algorithms and formulas and perhaps we might have some good Congressional algorithms evolve, but then again, we need the people at the top that comprehend and understand to lead the way, the folks with some “hands on” intelligence. BD
Another company that is taking a hit in the wallet following bad trial news is Targanta Therapeutics. Shares in the company fell 43.6 percent yesterday afternoon and hit a 52-week low earlier in the day, following the FDA's statement that it agrees with an advisory panel's recommendation for more testing of its antibiotic, oritavancin.
If you haven’t paid much attention to the business of healthcare until now, well it’s a good time to start reading up to find out why things are going and happening today, comes back around to money.
Biotech companies are getting in line behind Detroit’s Big Three for a little help from the feds.
As we’ve noted amid the tumult this fall, biotech companies, which depend on investors for cash to fund their dreams of a blockbuster drug, are seeing the financial wells go dry amid the credit crunch.
So, the companies are off to Washington. The New York Times reports that biotech execs plan to ask Congress for a temporary change in tax law that would provide them a cushion in these tough times.
“This is about our companies taking a decade to get a product on the market, and during that time they need to have investor capital, and that capital is not available.”