With shares suspended, CStone board readies to meet
Once on a fast track to become a bellwether, China biotech has found itself in limbo
A meeting of CStone’s board slated for Monday could bring to a close a difficult stretch for the Chinese oncology company that has seen its stock suspended for weeks at a time when it is launching multiple therapies and running several pivotal trials in tandem.
Blue chip investors, a veteran CEO and top-tier global partners had appeared to set the stage for CStone Pharmaceuticals Co. Ltd. (HKEX:2616) to become a leader among China’s biotechs. But the loss of high-profile executives and an accounting anomaly has the company playing a waiting game during one of the worst global downturns for biotech in a decade...
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