ABIO - ARCA biopharma establishes special board committee to evaluate strategic options

ARCA biopharma (NASDAQ:ABIO) on Monday established a special committee of its board of directors to evaluate strategic options for the biopharmaceutical company. ABIO did not specify what kind of options the committee would evaluate. ABIO stock +4.7% to $2.43 in aftermarket trading. The formation of the special committee comes just weeks after ABIO's experimental COVID-19 therapy rNAPc2 failed to meet the primary endpoint with statistical significance in a phase 2b trial. At that time, ABIO had said it would evaluate options for the development of its assets, including partnering and other strategic options.

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ARCA biopharma establishes special board committee to evaluate strategic options