Daré does a re­verse merg­er with an ail­ing Cerulean; Pul­mo­cide rais­es $30.4M for RSV ther­a­py

→ Daré Bio­science is the lat­est biotech to pull off a re­verse merg­er. The com­pa­ny is tak­ing over Cerulean, leav­ing it with a ma­jor­i­ty of the stock and a list­ing on Nas­daq for its women’s health ef­fort. Cerulean, mean­while, sold CR­LX101 and CR­LX301 to a sub­sidiary of NewLink and laid off 11 staffers, leav­ing 8 em­ploy­ees. Last sum­mer Cerulean’s lead drug went 0 for 2 in mid-stage tri­als, blast­ing any re­main­ing hope of suc­cess and forc­ing the com­pa­ny to lay off half of its staff.

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