Strug­gling Unum ex­ecs are ready to con­sid­er a sale, merg­er or any deal that comes its way

Unum $UM­RX is work­ing its way through a sur­vival plan of sorts.

Af­ter get­ting hit with a trio of FDA holds in its brief pub­lic his­to­ry and trig­ger­ing its sec­ond piv­ot to a new lead drug pro­gram while lay­ing off 60% of the staff, the trou­bled pen­ny stock biotech Unum Ther­a­peu­tics has hatched new plans to se­cure fi­nan­cial back­ing while lin­ing up a go-for­ward strat­e­gy for the com­pa­ny.

First, Lin­coln Park Cap­i­tal Fund has agreed to buy up to $25 mil­lion of the long-suf­fer­ing stock, as Unum di­rects. And the ex­ec­u­tive team — led by CEO Chuck Wil­son — has put every­thing on the ta­ble for con­sid­er­a­tion: a sale, ac­qui­si­tion, merg­er, li­cens­ing deal, you name it. The AC­TR707 pro­gram, mean­while, is be­ing for­mal­ly wrapped up — their sec­ond failed lead pro­gram.

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