(RTTNews) - Hepion Pharmaceuticals, Inc. (HEPA), a clinical-stage biopharmaceutical company, announced on Tuesday that it has mutually agreed to terminate its merger agreement with Pharma Two B Ltd, a private, late clinical-stage pharmaceutical company which was originally entered into on July 19, 2024.
As part of the termination, neither party will be required to pay any termination fees.
Additionally, Hepion revealed that it has cancelled its previously scheduled special stockholder meeting set for December 12, 2024, and has withdrawn the proposals outlined in its Definitive Proxy Statement filed with the SEC on November 8, 2024.
Hepion, which had been focused on developing treatments for non-alcoholic steatohepatitis (NASH), hepatocellular carcinoma (HCC), and other liver diseases, continues to explore strategic alternatives and maximize stockholder value amid ongoing efforts to address the challenges in NASH drug development.
The company is focused on preserving capital and seeking options to provide value for its shareholders as it winds down certain clinical activities.
HEPA closed Tuesday's (Dec. 10, 2024) trading at $0.63, up 2.09%. In premarket trading Wednesday, the stock is down 9.87% at $0.54.
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