BioCentury
ARTICLE | Strategy

Spooked investors still hiding

January 11, 1993 8:00 AM UTC

Watching Gensia Pharmaceutical Inc. stock languishing in the $24 range should cause some thoughtful investors to ask whether the company really deserves the $300 million sell off it suffered in September.

Investors were willing to hang on to GNSA above $35, waiting for Phase III data and a PLA filing on Arasine, its lead cardiovascular product. But the stock plummeted to the low $20s when investors interpreted European Phase III trial results as equivocal. And GNSA had hardly budged by last week, when the company announced that it had filed its PLA...