Sienna Biopharma: Rises on plans to explore strategic, financial options

Sienna Biopharmaceuticals

05/08/2019 14:29

** Drug developer's shares  SNNA.O  up 13.2% at $0.94 in
premarket trade  
    ** Co engages Cowen as an independent financial advisor to
explore financial and strategic options  urn:newsml:reuters.com:*:nGNX70J3rH
    ** SNNA says it does not intend to initiate its planned
Phase 3 trials of its psoriasis treatment SNA-120, until it
secures sufficient additional capital
    ** As per co's Q1 earnings report, its cash and cash
equivalents as of Mar. 31 was about $57.2 mln, which includes
the $21.4 mln in net proceeds from its February 2019 follow-on
public offering to fund SNA-120  urn:newsml:reuters.com:*:nGNXc7S7d4 urn:newsml:reuters.com:*:nL1N20F0HA 
    ** Up to Friday's close, stock had fallen 64.2% YTD

 (Reporting by Nishara Karuvalli Pathikkal)
 ((Nishara.KaruvalliPathikkal@thomsonreuters.com; within U.S. +1
646 223 8780, outside U.S. +91 80 6749 6633;))