Article: Ribozyme Comes Out Strong On First Day As Sirna Therapeutics.

Washington Editor

Ribozyme Pharmaceuticals Inc.'s stock shot up 56 percent Thursday after shareholders voted in favor of the company's plans for financing, a name change and a reverse stock split.

As part of the actions, Ribozyme changed its name to Sirna Therapeutics Inc. and has $50 million to $52 million, or enough cash to run the business for four years. "That's pretty good in biotech," said Howard Robin, Sirna's president and CEO, who told BioWorld Today that morale at the company is "very high." Sirna has 28.17 million shares outstanding on a post-split basis.

Before Thursday, Sirna was looking at possible delisting on Nasdaq because the ...

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