Marina Biotech cancer news
Marina said it furloughed about 90% of its employees and ceased most day-to-day operations, including the Phase Ib/IIa START-FAP trial evaluating CEQ508 in patients with familial adenomatous polyposis (FAP). Additionally, the company issued five-year warrants to purchase about 425,000 shares to extend the maturity of a $1.5 million secured loan to June 15, 2012, from May 31, 2012. Marina continues to engage banking teams to identify strategic opportunities and seek additional funding. If additional funds are not received in the near-term, Marina said it may need to further reduce or cease operations completely. CEQ508 is an oral RNAi targeting beta-catenin (CTNNB1) delivered using Marina's transKingdom RNAi (tkRNAi) technology (see BioCentury, March 21). ...