Codiak BioSciences down after co files for Chapter 11 bankruptcy

Codiak BioSciences,.

27/03/2023 12:42

** Shares of Codiak BioSciences Inc  CDAK.O  slide 31.9% to
$0.29 before the bell
    ** CDAK files for Chapter 11 bankruptcy protection and will
seek to sell its assets, months after co reduced its workforce
by 37%  urn:newsml:reuters.com:*:nL4N35Z2CP
    ** Drug developer expects to consummate sale of entire
business or its core assets as soon as reasonably practicable
    ** Co's executive management team including CFO, Chief
Medical Officer, Chief Scientific Officer, Senior Vice
President, Human Resources will be departing by April 7
    ** Shares of CDAK fell ~5% YTD 

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))