NEUP Shares Rise Pre-Market As It Explores Strategic Alternatives, Including Potential Acquisition

• The strategic review comes after Neuphoria discontinued advancing its lead drug candidate called BNC210 for the treatment of social anxiety disorder in October.
• Strategic alternatives under consideration may include, but are not limited to, mergers, acquisitions, partnerships, joint ventures, licensing arrangements, or other strategic transactions, the company said.
• The company said it will carefully evaluate and consider Lynx1 Master Fund’s indication of interest in connection with its review of strategic alternatives.

Neuphoria Therapeutics Inc. (NEUP) initiated a review of strategic alternatives, including potential acquisitions, on Tuesday to advance its pipeline programs and maximize shareholder value.

NEUP shares traded 4% higher in the pre-market session at the time of writing.

Strategic Alternatives Under Consideration

Strategic alternatives under consideration may include, but are not limited to, mergers, acquisitions, partnerships, joint ventures, licensing arrangements, or other strategic transactions, the company said.

The company added that it does not have a defined timeline for exploring strategic alternatives. Further, it is not confirmed that the process will result in a transaction.

The strategic review comes after Neuphoria discontinued advancing its lead drug candidate called BNC210 for the treatment of social anxiety disorder in October after a late-stage trial missed its primary and secondary endpoints. Neuphoria then also said it will assess new development paths for BNC210 as a treatment for post-traumatic stress disorder (PTSD).

Lynx1 Master Fund Expresses Interest

Neuphoria on Tuesday also added that it received an unsolicited non-binding indication of interest from Lynx1 Master Fund LP earlier this week to acquire all of the outstanding shares of Neuphoria that it does not already own for $5.20 per share in cash. The company said it will carefully evaluate and consider this indication of interest in connection with its review of strategic alternatives.

Lynx1 Master Fund LP also expressed intent to nominate certain individuals to stand for election to Neuphoria’s Board of Directors at the company’s 2025 Annual Meeting of Stockholders, the company said. Neuphoria’s Board of Directors will now review the proposed director nominees. The annual meeting is scheduled for December 12.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around NEUP stock jumped from ‘bearish’ to ‘neutral’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.

NEUP stock is up by 43% this year and by 11% over the past 12 months. 

Also See: POET Technologies And Quantum Computing Team Up To Boost AI Data Speeds

For updates and corrections, email newsroom[at]stocktwits[dot]com

Share

·

Add us on