In a second change of directions this year, ImaRx Therapeutics May 7 announced it has agreed to sell its inventory of the anti-clotting drug urokinase for $17 million cash to Microbix in Toronto, Canada.

In January, ImaRx announced it was shifting its business focus to marketing urokinase and away from further development of its proprietary microbubble and ultrasound technology for strokes, called the SonoLysis program. At the time the company said the move was done to preserve capital.

Now, ImaRx says it will use the proceeds from the sale of urokinase to continue to advance SonoLysis.

ImaRx has also been warned by Nasdaq that its stock is in danger of being delisted unless it gets its share price above $1 per share for at least 10 days by Oct. 8. On May 7, the day ImaRx announced the sale of urokinase, its share price jumped from 35 cents to close at 84 cents. On May 8, it closed at 80 cents. ImaRx stock opened at $4.90 per share last July and has never traded above that.