Healthcare - Wednesday, December 23, 2009 14:57 - 0 Comments

CombinatoRX Incorporated CRXX Trading Session 1.09%

CombinatoRx Inc. completed its merger with the Canada’s Neuromed Pharmaceuticals, the deal was first announced last June 30. Christopher Gallen who served as the CEO of the Neuromed since 2004, has been named as the new President and CEO of the company. Gallen will receive a base salary of $355,000 and a bonus of $250,000 if the Food and Drug Administration approve the company’s pain drug, Exalgo on or before September 30, 2010. CombinatoRx’s interim CEO Robert Forrester had named Executive Vice-President and Chief Operating Officer. Forrester will be receiving a one-time payment amounting of $693,000 in connection with the merging.

Last Trade: 0.90
Trade Time: 9:40AM ET
Change: Down 0.0099 (1.09%)
Prev Close: 0.9099
Open: 0.90
Day’s Range: 0.8927 – 0.9401
52wk Range: 0.25 – 2.60
Volume: 171,965
Avg Vol (3m): 768,866
Market Cap: 31.51M

About CombonatoRx Incorporated

CombinatoRx, Incorporated (CombinatoRx) is a biopharmaceutical company focused on developing synergistic combination pharmaceuticals. The Company has devoted substantially all of its resources to the development of its drug discovery technology and the research and development of its drug candidates, including conducting pre-clinical and clinical trials and seeking intellectual property protection for its technology and product candidates. It has been advancing a portfolio of four product candidates, Synavive (CRx-102), CRx-401, CRx-191 and CRx-197, through clinical research and development, and has a number of product candidates that have either completed Phase IIa clinical trials or are in preclinical development. Its portfolio of clinical product candidates targets multiple diseases including immuno-inflammatory diseases, metabolic disease, chronic pain and topical dermatoses. It also has a pipeline of preclinical product candidates in development.