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GNBT - Generex advancing spinout of I-O business; shares down 7%
Generex Biotechnology
Generex Biotechnology (OTCQB:GNBT-7.3%) announces that it has identified (but does not disclose) a public development-stage company that will serve as the vehicle (appears to be a reverse merger) for the spinout of subsidiary NuGenerex Immuno-Oncology (NGIO) as a standalone organization. It is in "final negotiations" with the unnamed firm to retain the controlling interest. Contracts and regulatory filings should be completed in the coming weeks.
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