Vyant Bio falls on plans to delay clinical studies

Vyant Bio

03/02/2023 15:38

** Shares of Vyant Bio  VYNT.O  fall as much as 15.5% to 87
cents in early trade 
    ** Biotech co says it expects to delay its ongoing
pre-clinical and clinical programs, as part of its cash
preservation plan 
    ** Co's Board determines it is "appropriate to conduct a
reduction in force (workforce) as soon as practical" 
    ** Co expects to incur about $1.4 mln in costs related to
employee termination in Q1 and Q2 2023
        ** Including session, VYNT up nearly 26% so far this
year; stock fell ~90% in 2022 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))