Allena surges on evaluation of strategic alternatives

Allena Pharmaceuticals

04/01/2022 12:20

** Shares of the drug developer  ALNA.O  jump ~59% to $1
premarket
    ** Says evaluating strategic alternatives including
potential partnerships for its drug development programs, a sale
of one or both of the development candidates, a company sale or
merger, or securing additional financing
    ** Says its treatment candidate for excess uric acid in
blood, ALLN-346, demonstrated a statistically significant
reduction in serum uric acid in the first group of patients in a
mid-stage trial
    ** Not set a timetable for completion of the strategic
review process - company
    ** ALNA shares down ~49% in the last 12 months

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; +91  8061822700;))