Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Kaleido Biosciences Shares Plunging To 52-Week Low, Read Why

Published 08/04/2022, 17:18
Updated 08/04/2022, 18:11
© Reuters. Kaleido Biosciences Shares Plunging To 52-Week Low, Read Why

  • Kaleido Biosciences Inc (NASDAQ: KLDO) has delivered formal notice to voluntarily delist its common stock from NASDAQ as the Company will stop all operations.
  • The Company expects to file a Form 25 with the Securities and Exchange Commission by April 18 to effect the voluntary delisting effective by April 28.
  • The Board of Directors voted to immediately wind down and cease all of the Company’s ongoing operations.
  • Related: Kaleido Halts Upcoming Phase 2 COPD Trial, Piper Sandler Cuts Price Target (NYSE:TGT).
  • In connection with the cessation of activities, the employment of all of the Company’s remaining employees was terminated effective immediately.
  • As previously announced, the Company had initiated a strategic process, but it did not result in the identification of any viable transactions, given its limited remaining resources.
  • The Company cannot continue operations and believes that the best alternative is an orderly wind-down process.
  • Price Action: KLDO shares are down 74.9% at $0.37 during the market session on the last check Friday.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.