Last rites for Sienna, as struggling biotech files for Chapter 11
More than three years after making a $65 million dollar public debut, Sienna Biopharmaceuticals has filed for bankruptcy.
The company’s shares $SNNA — which once crossed the $24 mark — have recently been languishing in penny stock territory — the stock never quite recovered from the colossal failure of its experimental skin drug, SNA-001, in acne patients in 2017 (although the therapy is still being evaluated as an approach for laser hair removal).
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