Make that two biotech re­verse merg­ers in one day

Hot on the heels of a re­verse merg­er be­tween Tokai and Ot­ic, Dipex­i­um $DPRX an­nounced that it will be turn­ing over the shell of what it has left to Hous­ton-based PLx Phar­ma.

Two months ago Dipex­i­um re­port­ed the lat­est in a string of cat­a­stroph­ic tri­al fail­ures for the year. Their an­tibi­ot­ic cream failed two late-stage stud­ies, evis­cer­at­ing their busi­ness mod­el and leav­ing few al­ter­na­tives to pick from. Its shares dropped 85%.

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