Liminal BioSciences rises on plans to spin-off non-core assets

Liminal BioSciences

06/01/2023 21:42

** Shares of biopharma co Liminal BioSciences  LMNL.O  up
~4% at 37 cents after the bell 
    ** LMNL says planning to spin-off its remaining non-core
assets to extend its cash runway 
    ** Reports C$37 million cash on hand as of December-end,
expected to provide runway into early 2024 
    ** Co will continue to seek partnership or out-licensing
opportunities for its programs 
    ** Also chooses LMNL6511 as its lead preclinical drug
candidate for its inflammatory disease therapy program 
    ** LMNL says plans to seek approval to begin human trial of
LMNL6511 this year 
    ** Stock fell ~70% in 2022
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))