LadRx starts hunt for new life; Statera lines up merger with diagnostics company
LadRx, formerly known as CytRx, will look for “strategic and financing alternatives,” the cancer biotech said Wednesday.
The Los Angeles biotech, listed on the over-the-counter market, said it initiated a process looking for a merger, strategic sale, up-listing to Nasdaq or other forms of “maximizing shareholder value.” Roth Capital Partners will advise the company.
“We believe that LadRx has great potential if Arimoclomol and Aldoxorubicin successfully navigate clinical trials and regulatory approvals, and we have additional next-generation oncology drugs in the pipeline,” CEO Stephen Snowdy said in a statement.
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