Santhera investors bail after lead drug fails PhIII

Switzerland's Santhera Pharmaceuticals (SANN) says its lead drug failed a late-stage trial. And the news triggered a sharp, 31 percent drop in the developer's stock. Even though CEO Klaus Schollmeier told Reuters that the company has plenty of cash on hand to make it through next year, at least one analyst quickly concluded that the biotech may have to restructure. Researchers tested three doses of Catena against a placebo in a trial that recruited 232 patients with Friedreich's Ataxia. But the...