Sano Hits A Healthy PatchBy
After reaching 18 in late May, shares of Sano (SANO) had plummeted to 10 by July 24. Earnings had been disappointing for the maker of patches that transmit drugs through the skin: It posted a second-quarter loss larger than the Street expected. Even so, the stock started rising again towards the end of July. By Aug. 21, it had climbed to 17. Why? Sano got a shot in the arm from Bristol-Myers Squibb.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.