Sio Gene Therapies slumps on plans to explore options including sale

Sio Gene Therapies

28/04/2022 11:18

** Shares of drug developer  SIOX.O  slump ~40% to 36 cents
before the bell   
    ** Late on Wednesday, co announced plans to explore and
reveiw a range of strategic options, including a potential
company sale, merger, business combination   urn:newsml:reuters.com:*:nGNX1F0N9X 
    ** Co says also implementing a "significant headcount
reduction" to conserve capital ; reports cash, equivalents of
about $64 mln as of March 31, 2022
    ** SIOX has engaged SVB Securities as financial advisor for
the strategic review process 
    ** SIOX terminates licensing agreements for gene therapies
with University of Massachusetts
    ** Up to Wednesday's close, stock down ~53% YTD 

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