After learning that the biotechnology business is looking at strategic options, shares of Vyant Bio Inc. (Nasdaq: VYNT) were up 116.94% at $1.67 at the time of our last check in pre-market trading.
What action did VYNT take?
LifeSci Capital has been hired by Vyant Bio (VYNT) as a financial advisor to help with the exploration of a variety of strategic options aimed at increasing shareholder value. With its patented central nervous system (“CNS”) drug discovery platform, Vyant Bio has reinvented drug discovery for complex neurodegenerative and neurodevelopmental illnesses.
This platform integrates human-derived organoid concepts of brain disease, scaled biology, and machine learning. In addition, VYNT disclosed that the company will attend the annual JP Morgan Healthcare Conference in conjunction with BIO’s One-on-One Partnering event in San Francisco.
The Board of Directors and Management of VYNT are confident that the Company has achieved real strides in its drug discovery approach, which is centered on the identification of novel, disease-modifying therapies to treat neurodegenerative and neurodevelopmental illnesses.
The Board and Management do think that it would be wise to think about strategic alternatives while still carrying out the present business strategy, nevertheless. The management of VYNT did not guarantee that the review process would alter the Company’s present business goals or result in a certain action or transaction.
Until and unless the Company’s Board of Directors has approved a particular action or the Company otherwise deems that further disclosure is appropriate, Vyant Bio does not intend to debate or disclose other developments throughout this process.
How is VYNT progressing?
VYNT believes it has successfully shown that it can find and validate pharmacological targets and therapeutic prospects for the treatment of severe neurodegenerative and neurodevelopmental illnesses by leveraging its unique CNS drug discovery platform. The presentations served as significant turning points for Vyant Bio (VYNT), which is working to demonstrate the utility of its patented CNS drug discovery platform for the identification of innovative treatments for CNS hereditary illnesses with the potential to slow or even reverse disease progression.