Histogen views strategic alternatives

Shares of US clinical-stage drug developer Histogen (Nasdaq: HSTO) rocketed 33% to $$0.97 in after-hours trading yesterday, after it indicated that the company could be up for sale.

Histogen said it has completed a review of its business, including the status of programs, resources and capabilities, and has decided to pause further development of its programs and commence a process to explore strategic alternatives with the intent to enhance shareholder value. Histogen has engaged Roth Capital Partners to act as a strategic advisor in this process.

Possible alternative to be explored include an acquisition, merger, reverse merger, other business combination, sale of assets, financing alternatives, licensing, or other strategic transactions involving the company, said Histogen, adding that there can be no assurance of a transaction, a successful outcome of these efforts, or the form or timing of any such outcome.