Published on 13 Jul 2023 on Zacks via Yahoo Finance

AVROBIO (AVRO) to Explore Strategic Options, Stock Rises 46%

AVROBIO AVRO announced completing a review of its business encompassing the status of its programs, resources and capabilities as part of its reprioritization efforts. To this extent, the company has decided to halt the development programs of its investigational gene therapy candidates.

Per AVROBIO, the potential strategic alternatives may include, but are not limited to, an acquisition, merger, business combination or other transaction under its evaluation process. In the event of AVROBIO pursuing a transaction, the company refrained from giving its shareholders any assurance that such transaction will be completed on attractive terms.

AVRO has not provided any anticipated date of completion of its evaluation process. Additionally, the company is reluctant to disclose further developments unless and until it is determined that further disclosure is appropriate or necessary.