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Vyant Bio To Explore Strategic Alternatives; Stock Doubles

January 04, 2023 — 05:07 pm EST

Written by RTTNews.com for RTTNews

(RTTNews) - Shares of nano-cap company Vyant Bio, Inc. (VYNT) more-than-doubled in extended session on Wednesday after the biotechnology company announced that it is exploring a range of strategic alternatives.

Vyant Bio said it has engaged LifeSci Capital as its financial advisor to assist in exploring a range of strategic alternatives focused on enhancing shareholder value.

"The Company's Board and Management believes that the Company has made tangible progress in its drug discovery strategy focused on the identification of new, disease modifying therapeutics to treat neurodevelopmental and neurodegenerative diseases," said Jay Roberts, Chief Executive Officer of Vyant Bio, "however, the Board and Management also believe that it would be a prudent time to contemplate strategic alternatives while continuing to execute on the current business plan."

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