ZombieHealthcare
What Happened to Ocean Biomedical?
Ticker: OCEASPAC Year: 2021Merger: 2022
Return
-100.0%
Current Price
$0.02
Peak Price
$26.6
Trust Size
$2M
Summary
Ocean Biomedical is a biotechnology company developing treatments for lung cancer, brain cancer, fibrosis, and infectious diseases including malaria, based on discoveries from Brown University.
What Happened
Ocean Biomedical went public through a SPAC merger with Aesther Healthcare Acquisition Corp. The company in-licenses discoveries from academic institutions, particularly Brown University, to develop novel therapies. The stock has collapsed to pennies, and the company has faced lawsuits and going concern warnings while trying to advance its early-stage pipeline.
Timeline
2021-09-02
S-1 Registration Filed
2022-11-22
Merger Proxy Filed (DEFM14A)