Tiny Si­en­na is call­ing in Cowen as shares con­tin­ue to lan­guish long af­ter a se­vere tri­al set­back

With its cash re­serves shrink­ing and its stock stuck in pen­ny stock ter­ri­to­ry, tiny Si­en­na Bio­phar­ma­ceu­ti­cals is bring­ing in Cowen to ex­plore what kind of fi­nan­cial and strate­gic al­ter­na­tives it can drum up at this point. And that event is point­ing shares south again.

Si­en­na needs to raise cash to pay for a planned Phase III piv­otal of their new lead drug SNA-120, a Tr­kA in­hibitor for pso­ri­a­sis, which the biotech says won’t get start­ed with­out the mon­ey to pay for it.

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