THERAPY AT TISSUE
LOCAL biotech Tissue Therapies has just gone through a top rank reshuffle - and still the wound-healing company is having trouble getting any love.
A few weeks ago Roger Clarke, of stockbroker Morgans fame, revealed he was standing down as chairman but would be a non-executive director in the short term. Long-term chief executive Steven Mercer resigned too.
It came after a long struggle with European regulators to get Tissue’s product, designed to help wounds such as ulcers, onto the market. The initial plan had been to release in there in 2012.
On Wednesday, Tissue revealed it was awaiting more feedback from regulators and getting some more scientific advice. Fingers crossed it won’t be a long wait but the stock went down another 1.9¢ to 6.6¢. To think that stock got to 84¢ in the boom days of biotech.
