Duck Becomes Swan: the Rx-to-Dx Metamorphosis of Cygnus
Less than a year after it was nearly de-listed with a market cap below $50mm, Cygnus is back on top, with a value of $450mm, thanks to an FDA panel recommending approval for its GlucoWatch noninvasive glucose monitoring product. As part of its transformation into a diagnostics company, Cygnus has shed its drug delivery businesses, an increasingly commoditized operation.
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