Getting your player ready...
Boulder based Tapestry Pharmaceuticals Inc. will suspend trading on the Nasdaq Stock Market as it moves toward bankruptcy. The company’s stock will cease trading as of today. The company was working to produce a new drug to fight solid-tumor cancers.
The company changed its name in 2004 — from NaPro BioTherapeutics — after selling its approved cancer drug paclitaxel and related businesses to New Jersey-based Mayne Pharma USA Inc. in 2003 for $72 million.
NaPro was founded in 1991 and went public in 1994.
Tapestry had 60 employees in 2005 but will move to fewer than a dozen full-time employees as it seeks to work out settlements with creditors.
