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

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 4.5% higher in the pre-market session at the time of writing.

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.

Neuphoria 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.

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