Vallon Pharma soars on strategic review

GRI Bio

22/04/2022 14:00

** Drug developer's shares  VLON.O  soar 70% to $1.92
premarket; among top pct. gainers across U.S. exchanges
    ** 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 candidate drug for attention deficit hyperactivity
disorder (ADHD) treatment that 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;))