Af­ter falling off a cliff, Edge Ther­a­peu­tics pro­vides can­cer-fo­cused PDS Biotech a re­verse merg­er on­to Nas­daq

Bat­tered by a late-stage set­back in March, tiny Edge Ther­a­peu­tics $EDGE has pro­vid­ed can­cer im­munother­a­py com­pa­ny PDS Biotech­nol­o­gy Corp. a ve­hi­cle for a quick re­verse merg­er on­to Nas­daq. The com­pa­ny’s shares — which end­ed last week deep in pen­ny stock ter­ri­to­ry — sky­rock­et­ed near­ly 43% pre­mar­ket on the an­nounce­ment.

In late March, Edge re­port­ed that a pre-spec­i­fied in­ter­im analy­sis of its lead drug, EG-1962, which was be­ing in­ves­ti­gat­ed in a late-stage study in­volv­ing pa­tients with aneurys­mal sub­arach­noid he­m­or­rhage (aSAH) — a fre­quent­ly fa­tal brain bleed caused by the rup­ture of an aneurism — would like­ly fail. Based on that rec­om­men­da­tion, the Berke­ley Heights, New Jer­sey-based com­pa­ny de­cid­ed to aban­don the ex­per­i­men­tal drug. A month lat­er Edge said it was ex­plor­ing strate­gic al­ter­na­tives.

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