Strike two for Lpath, employees out
This article was originally published in Scrip
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Obesity device firm Apollo Endosurgery and drug firm LPath Inc. have announced plans to merge in an agreement that is intended to transition the privately held Apollo into a NASDAQ-listed company.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.
The biotech is shifting gears after clinical hold on its lead drug was unlikely to be lifted, but the early-stage candidate that it's placing its hopes on is raising red flags for analysts and investors.