Neothetics Announces Review of Strategic Alternatives
NEOTHETICS INC (NEOT)
US:NASDAQ Investor Relations:
investors.neothetics.com/investor-overview
Company Research
Source: GlobeNewswire
SAN DIEGO, July 10, 2017 (GLOBE NEWSWIRE) -- Neothetics, Inc. (NASDAQ:NEOT) announced today that its Board of Directors has unanimously approved plans to initiate a process to explore and review a range of strategic alternatives focusing on seeking an acquisition, business combination or partnership that will allow for it to maximize shareholder value from its remaining assets and cash resources. Neothetics has engaged Oppenheimer and Co., Inc. to act as its exclusive financial advisor to the company and Board for this process. The Company also intends to streamline its operations in order to preserve its capital and cash resources, including implementing a reduction in workforce. “We have unanimously determined that seeking a strategic transaction gives us the best opportunity to maximize shareholder value,” said Kim Kamdar, Ph.D., a member of Neothetics’ Operating Committee and Board of Directors. “In addition, we continue to review all operational expenses in order to facilitat
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