Here's a sad example that I just snared off the internet:
Aryx Therapeutics announced last night additional delay by FDA and begins wind-down of operations (0.19) Co announces that the FDA has informed the Company of an additional delay in providing needed guidance on the Phase 3 development of ARYx's product candidate for the treatment of various gastrointestinal disorders, naronapride. In this latest communication with ARYx, the FDA suggests a response will not be forthcoming until July 2011 at the earliest. As a consequence, the board of directors has determined that continued operations of ARYx is not possible due to lack of funding, and the orderly wind-down of operations is to begin immediately. This wind-down will be executed in cooperation with ARYx's largest secured creditors, including Lighthouse Capital Partners V and MPM Capital.