In most industries, two companies that had collectively burned through more than $1.6 billion without bringing one of their own products to market would be kicked to the curb. But biotech isn't just any business.
In fact, two of the Bay Area's longer-term biotech companies — Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) and Xoma Ltd. (NASDAQ: XOMA) — are involved in reverse stock splits that their leaders hope will push experimental drugs toward the elusive goal of FDA approval. Sunesis on Thursday…
In most industries, two companies that had collectively burned through more than $1.6 billion without bringing one of their own products to market would be kicked to the curb. But biotech isn't just any business.
In fact, two of the Bay Area's longer-term biotech companies — Sunesis Pharmaceuticals Inc. (NASDAQ: SNSS) and Xoma Ltd. (NASDAQ: XOMA) — are involved in reverse stock splits that their leaders hope will push experimental drugs toward the elusive goal of FDA approval. Sunesis on Thursday…