Brief: ASIT Biotech Files Request For Judicial Reorganization

European Medical Solutions SA

20/12/2019 09:37

Dec 20 (Reuters) - ASIT BIOTECH SA  ASIT.BR :
    * DISCLOSES NEXT STEPS FOLLOWING GP-ASIT+TM PHASE III
RESULTS
    * TO EXPLORE STRATEGIC OPTIONS IN H1 2020 TO RETAIN MAXIMUM
SHAREHOLDER VALUE, INCLUDING REFOCUS ON FOOD ALLERGIES
    * TO REDUCE ORGANIZATION SIZE TO MINIMIZE CASH BURN AND FILE
REQUEST FOR JUDICIAL REORGANIZATION TO RESTRUCTURE THE COMPANY’S
INDEBTEDNESS AND TO GIVE TIME TO MANAGEMENT TO ACCOMPLISH THIS
MISSION
    * BOARD OF DIRECTORS HAS ALSO DECIDED TO REDUCE ORGANIZATION
TO
STRICT MINIMUM AND HAS FILED A REQUEST FOR JUDICIAL
REORGANIZATION
    * BOARD OF DIRECTORS MANDATED MANAGEMENT OF ASIT BIOTECH TO
EXPLORE STRATEGIC OPTIONS DURING H1 2020 TO RETAIN MAXIMUM
SHAREHOLDER VALUE, SUPPORTED BY CURRENT CASH POSITION OF EUR 3.7
M

Source text for Eikon:  ID:nBw2HD5nZa 
Further company coverage:  ASIT.BR 

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