Published on 29 Jun 2022 on Zacks via Yahoo Finance
Graybug (GRAY) to Review Strategic Alternatives, Stock Up
Graybug Vision, Inc. GRAY announced that its board of directors is willing to conduct a comprehensive review of strategic options and alternatives focused on maximizing shareholders’ value of the company.
As a part of this strategic review, Graybug is considering a potential sale of the company apart from evaluating other alternatives like an acquisition, merger, divestiture of assets, and private placement of equity securities, among others.
Shares of Graybug were up 35.4% on Tuesday following the announcement of the news. The stock has plunged 39.9% so far this year compared with the industry’s decline of 21.7%.