LIAN - With No Cure In Sight Drugs Firm LianBio Begins Exit Strategy
2024-02-23 04:32:00 ET
Summary
- The biotech, which obtained rights to novel drugs for use in the Chinese market, has announced a plan to wind up its business and delist from the Nasdaq just four years after being founded.
- The drug maker will sell its remaining pipeline assets, phase out ongoing clinical trials and pay a special dividend of $4.80 per share.
- LianBio has failed to deliver any product to the market since it was established in 2020.
LianBio (LIAN) was a rising star of the Chinese pharmaceutical scene but the drugs startup has flamed out just four years after its launch....
With No Cure In Sight, Drugs Firm LianBio Begins Exit Strategy