Ayala Pharmaceuticals Inc (ADXS)

[ubmmg]

Another implosion:
Note CNAT had a market cap of 30MM and voila ... Is Advaxis in better condition than theirs? Hardly.

Conatus to Explore Strategic Alternatives and Implement Restructuring Plan
https://finance.yahoo.com/news/conatus-explore-strategic-alternatives-implement-200600965.html

SAN DIEGO, June 24, 2019 (GLOBE NEWSWIRE) -- Conatus Pharmaceuticals Inc. (CNAT) today announced that the company has engaged Oppenheimer & Co., Inc., as its financial advisor to assist in the exploration and evaluation of strategic alternatives to enhance shareholder value. There can be no assurance of a successful outcome from these efforts, or of the form or timing of any such outcome. The company does not intend to make any further disclosures regarding the strategic review process unless and until a specific course of action is approved by the company’s Board of Directors.

In order to extend its resources, Conatus is implementing a restructuring plan that includes reducing staff by approximately 40% and suspending development of its inflammasome disease candidate, CTS-2090. The company has updated its financial guidance and is projecting a year-end 2019 net balance of cash, cash equivalents and marketable securities of between $10 million and $15 million.

“We remain excited by the potential of CTS-2090 as a uniquely positioned inflammasome disease compound,” said Steven J. Mento, Ph.D., President, Chief Executive Officer and co-founder of Conatus. “However, we must preserve our remaining resources to extend our cash runway to better explore strategic alternatives that can benefit shareholders. Although we are halting development activities for CTS-2090, we plan to continue to explore a variety of opportunities to advance this compound.”