CANbridge Pharmaceuticals Inc. (HK:1228) has released an update.
CANbridge Pharmaceuticals Inc. has announced plans to downsize its U.S. operations, including terminating its exclusive license agreement with the University of Massachusetts and negotiating the end of its Boston office lease. These steps aim to alleviate liquidity pressures without impacting the company’s overall operations or financial performance. However, CANbridge’s future as a going concern depends on securing additional financing sources.
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