Tout­ing a wad of cash in the wake of a clin­i­cal im­plo­sion, a small biotech re­views some lim­it­ed op­tions

Just two short months af­ter TYME Tech­nolo­gies’ lead drug can­di­date SM-88 was pulled from a failed Phase II/III tri­al for metasta­t­ic pan­cre­at­ic can­cer, the mi­cro­cap biotech is now look­ing at re­struc­tur­ing in what seems to be a last-ditch at­tempt to stay afloat.

The can­cer play­er said in a state­ment ear­ly Tues­day that its board of di­rec­tors is ex­plor­ing “po­ten­tial strate­gic op­tions to en­hance stock­hold­er val­ue,” armed with $92 mil­lion in cash and mar­ketable se­cu­ri­ties in hand as of De­cem­ber 31. While the com­pa­ny is re­main­ing mum on more de­tails, say­ing it won’t list any specifics un­til things start to be­come fi­nal­ized, TYME has brought on two out­side firms for fi­nan­cial and le­gal ad­vice.

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