A high fly­er out of Flag­ship im­plodes — for the last time

So much for Ru­bius II.

A lit­tle more than a year af­ter the one-time Flag­ship star $RU­BY looked to re­struc­ture around a sec­ond try at mak­ing red blood cells a drug tech of the fu­ture, the biotech put out word af­ter the mar­ket closed Wednes­day that it’s ax­ing the bulk of the re­main­ing staff and look­ing for a sale or merg­er.

With shares trad­ing slight­ly north of 30 cents apiece, it won’t take much to take over the crum­bling struc­ture that once com­mand­ed a mar­ket val­u­a­tion in the bil­lions.

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