Depressed From Recent News, Myrexis' Presentation At ASCO Draws Speculation

Fri, 05/25/2012 - 03:53 EDT - Seeking Alpha

By Brian L. Wilson:Myrexis (MYRX) is an early-stage pharmaceutical company that focuses on the development of anti-cancer drugs whose shares are trading -41.00 % from their 52-week high ($ 4.22). The Salt Lake City, Utah based firm currently has four projects in their product pipeline, only one of which has entered clinical trials thus far (the compound MPC-3100). In February, Myrexis announced the suspension of its pre-clinical and clinical programs to make room for a new acquisition-based strategy to enhance shareholder value. Despite the change in direction, the stock has been suffering from poor market conditions and remains depressed from the announcement of a change in management. Richard Brewer was appointed the new CEO, replacing Robert Lollini as announced on May 11th 2012. Brewer is an industry veteran who has a long track record of developing successful strategies at better known companies like Roche (RHHBY.PK) and Dendreon (DNDN). Despite some small problems fromComplete Story »

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Depressed From Recent News, Myrexis' Presentation At ASCO Draws Speculation

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