Fresh Track Therapeutics gains as board approves liquidation plan

Fresh Tracks Therapeutics

20/09/2023 11:33

** Fresh Track Therapeutics  FRTX.O  shares rise ~53% to 89
cents before the bell 
    ** Late on Tuesday, FRTX said its board had approved plan of
liquidation 
    ** Says intends to distribute all remaining cash to
shareholders as part of liquidation plan 
    ** Co currently expects distributions to shareholders in the
range of $5 mln to $7 mln     
    ** FRTX also discontinued all clinical and lab studies and
will terminate most employees by early October as part of
liquidation plan 
    ** Co also terminated Andrew Sklawer as CEO, appointed
current CFO Albert Marchio in his place 
    ** As of last close, shares down 61% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))