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CBLI - Cleveland BioLabs up 66% on planned merger with Cytocom
Cleveland BioLabs Inc.
Thinly traded nano cap Cleveland BioLabs (CBLI) jumps 66% premarket on robust volume in reaction to its planned merger with biopharmaceutical outfit Cytocom in an all-stock transaction. The latter will be majority owner.The deal should close in Q1 2021.Cytocom will host a conference call on Wednesday, October 28, at 8:00 am ET to discuss the tie-up and its strategic vision for the combined company.