Avrobio latest to explore 'strategic alternatives'
US gene therapy company Avrobio (Nasdaq: AVRO) today announced that it has completed a review of its business, including the status of its programs, resources, and capabilities, joining a growing list of biotechs that have recently announced similar actions.
As part of this evaluation process, Avrobio will explore potential strategic alternatives that may include, but are not limited to, an acquisition, merger, business combination, or other transaction.
As a result, Avrobio has made the decision to halt further development of its programs and to conduct a comprehensive exploration of strategic alternatives focused on maximizing shareholder value. The news sent the firm’s share roaring up nearly 34% to $1.31.
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