LianBio Shares Gain After Co Announces Plans to Wind Down [MarketWatch]
LianBio (LIAN)
Company Research
Source: MarketWatch
The American Depositary Shares recently traded at $4.72 and had been rangebound between $3.50 and $4.50 since late October. Advertisement The board declared a special cash dividend of $4.80 a share as part of the wind-down plan. Shanghai-based LianBio has struggled to turn a profit. In its third-quarter earnings report, the company said it had incurred operating losses since its inception and had an accumulated deficit of $540.2 million as of Sept. 30. In December, LianBio's chief executive and chief financial officers left the company, about two weeks after the board chose not to pursue an unsolicited buyout offer from Concentra Biosciences of $4.30 a share. LianBio said Tuesday that it expected the wind down, which includes laying off staff and selling its pipeline assets, to conclude by the end of 2024. The ADS are likely to be delisted from the Nasdaq Global Market in March. Write to Mary de Wet at mary.dewet@dowjones.com
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LIAN
News
- LianBio Announces Voluntarily Delisting from Nasdaq [Yahoo! Finance]Yahoo! Finance
- LianBio Announces Voluntarily Delisting from NasdaqGlobeNewswire
- With No Cure In Sight, Drugs Firm LianBio Begins Exit Strategy [Seeking Alpha]Seeking Alpha
- LianBio to Wind Down Operations, Declares Special Dividend [MarketWatch]MarketWatch
- LianBio Announces Completion of Strategic Review [Yahoo! Finance]Yahoo! Finance
LIAN
Sec Filings
- 3/13/24 - Form EFFECT
- 3/12/24 - Form F-6
- 3/12/24 - Form S-8
- LIAN's page on the SEC website