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Sophiris Bio Hires Oppenheimer to Advise on Strategic Options

Sophiris Bio ( SPHS ) said it has hired Oppenheimer & Co to advise in the evaluation of strategic alternatives to advance the development of topsalysin and enhance shareholder value, including potential partnering arrangements, financings or a strategic transaction.

The company is developing topsalysin for the treatment of urological diseases.

"Our Phase 3 BPH clinical trial met its primary endpoint and the initial data from our Phase 2a proof of concept trial in localized prostate cancer was encouraging, both of which create attractive strategic opportunities for moving the programs and the company forward," CEO Randall Woods said in a statement. "With the totality of the topsalysin data, Oppenheimer's experience advising companies in our field will be immensely valuable as we evaluate strategic alternatives to maximize opportunities from our topsalysin programs."

Sophiris said it won't make further disclosures on the matter until its board approves a specific action or otherwise concludes its review of strategic alternatives.

SPHS trades near the bottom of the 52-week range between $0.61 and $3.85.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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