- Vyant Bio ( NASDAQ: VYNT ) on Wednesday said it had engaged boutique investment bank LifeSci Capital to explore strategic alternatives for the company.
- Shares of the micro-cap biotech more than doubled in value to $1.60 after hours.
- Cherry Hill, N.J.-based VYNT is developing therapies to treat neurodevelopmental and neurodegenerative diseases, with current programs targeting Rett Syndrome, CDKL5 deficiency disorders and Parkinson's disease.
- "The Board and Management ... believe that it would be a prudent time to contemplate strategic alternatives while continuing to execute on the current business plan," VYNT CEO Jay Roberts said in a statement .
- The engagement of LifeSci Capital as financial advisor comes after VYNT in Nov. last year reported a fall in both revenue and cash position for Q3.
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Vyant Bio engages advisor to explore strategic alternatives, shares rocket +100%