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Health and Healthcare

CombinatoRx, Maybe Not As Bad As It Looked

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By Douglas A. McIntyre Updated Published
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CombinatoRx (CRXX) is still down in after-hours trading, but nowhere near the levels that it looked like the stock was trading at.  The stock was initially down more than 20% after the news came out and before the stock was halted.  Shares are actually down only about 3.3% now at $7.05 on what appears to be roughly 415,000 shares.  Obviously this is not going to be under that $5.50 year low like this one was looking originally. 

The good news, as noted, is that this company is not just a one-trick pony in the molecule land.  The bad news is that this failed indication was for Rheumatoid Arthritis and there could have been a great addition in business if this would have worked out.  Here is their full research pipeline:
Pipeline400pxSometimes these stock halts create some extra issues on their own, and that is what appears to have happened here on this one.

Jon C. Ogg
March 26, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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