Vallon Pharma more than doubles on strategic review

GRI Bio

22/04/2022 15:33

(Updates)
    ** Drug developer's shares  VLON.O  more than double to
$2.29, set for best day on record if gains hold
    ** Top percentage gainer across U.S. exchanges; also has
most active volumes, with more than 100x its 25-DMA shares
traded
    ** VLON says it is exploring strategic alternatives
including a merger, business combination, investment into VLON,
purchase, license or other asset acquisitions
    ** Says it has engaged investment bank Ladenburg Thalmann &
Co Inc to review options
    ** Co says it is exploring the best path forward for ADAIR,
its lead drug candidate to treat attention deficit hyperactivity
disorder (ADHD), which failed a late-stage study last month
 urn:newsml:reuters.com:*:nL3N2VO282
    ** Co is also exploring options for ADMIR, its
abuse-deterrent version of Ritalin
    ** As of last close, stock down 84.8% since co's ADAIR study
failed to meet main goals in March

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