Summary
DOV is in "much more dire circumstances than Amylin," which was never delisted, says Amin. Plus, DOV doesn't "have enough cash to pay their bondholders. There's a real risk of bankruptcy unless they renegotiate with them," he says. "The future looks very bleak. We'll have to see how management approaches this."
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Extract
Dov's Road to Ruin
DOV PHARMACEUTICAL is in dire straits. Its market capitalization has collapsed since March, and it was delisted from the Nasdaq last month for failing to meet the exchange's minimum marketvalue requirements.
Analysts say it is a classic example of a small biotechnology company running into trouhle when its lead products fail and i...See the full content of this document
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