What next for Biocompatibles?

Continuing its roller coaster month, Biocompatibles International plc (LSE:BII) fell 19.5p (18%) to 89p on Monday when 13.6 million shares were traded on news that the company had sold its cardiovascular stent business and drug-eluting stent programs to Abbott Laboratories (ABT) for £165 million ($234 million).

In the previous week, BII had leapt 34.5p (47%) to 108.5p on speculation about data from the CE Mark study of its Dextra phosphorylcholine (PC) coated stent. Three weeks back, BII had plummeted 78.5p (51%) to 74p on 20 million shares when the company stopped enrollment in its BRILLIANT II pivotal trial of BiodivYsio stent coated with batimastat (see Ebb & Flow, March 11). ...