Fol­low­ing job cuts and R&D re­struc­tur­ing, mi­cro­cap mi­croR­NA play­er mi­Ra­gen brings in new CEO to right the ship

Four years af­ter rid­ing the shell of a strug­gling mi­cro­cap biotech to Nas­daq with $40 mil­lion in cash, mi­croR­NA play­er mi­Ra­gen Ther­a­peu­tics is fac­ing a reck­on­ing of its own.

Af­ter the mar­ket close Thurs­day, mi­Ra­gen dis­closed a flur­ry of changes at the com­pa­ny: CEO William Mar­shall has re­signed, leav­ing COO Lee Rauch in charge as the new chief to over­see a “re­view of strate­gic al­ter­na­tives” — of­ten a sign that the board is ea­ger for a sale, al­though in-li­cens­ing and oth­er deals are al­so on the ta­ble.

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