Graybug Vision surges on strategic review

Calcimedica

28/06/2022 13:04

(Updates)
    ** Shares of Graybug Vision Inc  GRAY.O  surge 16.9% to 95
cents premarket after the eye disease-focused drug developer
says it will conduct a strategic review
    ** Stock set for best day in a year, if gains hold
    ** GRAY will explore options including potential
acquisition, company sale, merger, divestitures, private
placement of equity securities, or other strategic transactions
 urn:newsml:reuters.com:*:nGNX5ypHWP
    ** Co's cash, cash equivalents and short-term investments
total $55.3 mln
    ** GRAY says it has retained Piper Sandler as a financial
adviser for the review
    ** Stock down 54.8% this year, as of Monday's close

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))