RUBY - Rubius Therapeutics adds 10% on plan for liquidation

• The shares of nano-cap biotech Rubius Therapeutics ( NASDAQ: RUBY ) jumped ~10% pre-market Wednesday after announcing a plan for liquidation and dissolution subject to shareholder approval.
• The company’s board has already cleared the plan, which will be put forward for shareholder approval in an upcoming special meeting of stockholders.
• Rubius ( RUBY ) “will file proxy materials relating to the Special Meeting with the Securities and Exchange Commission as soon as practicable,” the company said in a regulatory filing.
• The decision comes after the company announced in November the start of a strategic review to explore business alternatives, including a sale or a merger.
• The announcement coincided with the resignations of Chief Executive Officer Pablo Cagnoni and Chief Financial Officer Pepe Carmona, while Chief Operating officer Dannielle Appelhans took over the leadership on Nov. 15
• At the time, Rubius ( RUBY ) also reduced its workforce by 84% and said it would retain certain employees to implement the strategic review.

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