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When Bad News Strikes
Your company suffers a setback. Now what?
Email: Ed Silverman - esilverman@the-scientist.com The Scientist 2005, 19(18):36
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In March, Ligand Pharmaceuticals, a San Diego-based biotech company, suffered a series of setbacks that prompted company executives to scramble to control the fallout and preserve its reputation. First, accounting issues prompted a delay in filing financial reports with the Securities and Exchange Commission. Then, two pivotal studies of a late-stage cancer drug under development failed to meet endpoints. To top it off, NASDAQ delisted Ligand's stock after the company repeatedly failed to file financial reports.
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