Biotechs are running out of cash, reports the Wall Street Journal. (OK, you probably already knew that.) In the past four months, 10 biotechs have gone bankrupt and, currently, 120 of the 360 publicly traded companies have less than six months' worth of cash -- the Journal's Health blog speculates that no one will be able to support the small biotechs. One company that the main article points to is Helicos Biosciences, saying that "even blue-ribbon scientific credentials are no guarantee of business success," as Helicos has struggled with a lack of sales and, last year, nearly running out of money.
Going for Broke
Mar 16, 2009