Brief: Fresh Tracks Therapeutics Announces Board Approval Of Plan Of Liquidation And Dissolution

Fresh Tracks Therapeutics

19/09/2023 22:46

Sept 19 (Reuters) - Fresh Tracks Therapeutics Inc
 FRTX.O :
    * FRESH TRACKS THERAPEUTICS ANNOUNCES BOARD APPROVAL OF PLAN
OF
LIQUIDATION AND DISSOLUTION
    * FRESH TRACKS THERAPEUTICS INC - IN CONNECTION WITH
LIQUIDATION
AND DISSOLUTION OF COMPANY, INTENDS TO DISTRIBUTE ALL REMAINING
CASH TO SHAREHOLDERS
    * FRESH TRACKS THERAPEUTICS INC- PAUSED SUBSTANTIALLY ALL OF
ITS
RESEARCH AND DEVELOPMENT ACTIVITIES AND REDUCED ITS HEADCOUNT
    * FRESH TRACKS THERAPEUTICS INC- PLANS TO HOLD A SPECIAL
MEETING
OF SHAREHOLDERS IN Q4 OF 2023 TO SEEK APPROVAL OF LIQUIDATION
AND DISSOLUTION
    * FRESH TRACKS THERAPEUTICS INC- REDUCING WORKFORCE, WHICH
INCLUDES TERMINATION OF MOST EMPLOYEES, BY EARLY OCTOBER 2023,
EXCEPT FOR CERTAIN EMPLOYEES
    * FRESH TRACKS THERAPEUTICS INC - TO REDUCE COSTS, FRESH
TRACKS IS
DISCONTINUING ALL CLINICAL AND PRECLINICAL DEVELOPMENT PROGRAMS
    * FRESH TRACKS - EXCLUDING AMOUNTS INTENDS TO RESERVE, SEES
TO
SUBSEQUENTLY MAKE LIQUIDATING DISTRIBUTIONS TO SHAREHOLDERS
BETWEEN $5 MILLION - $7 MILLION

Source text for Eikon:  ID:nGNX6ZDHyq 
Further company coverage:  FRTX.O 

 ((Reuters.Briefs@thomsonreuters.com;))