Biotech Values

[DewDiligence]

MLND—(-17%)—becomes a shell company—likely reverse-merger candidate:

https://finance.yahoo.com/news/millendo-therapeutics-provides-pipeline-business-140000619.html

Millendo Therapeutics…announced today that its Board of Directors has decided to discontinue further investment in MLE-301, a selective neurokinin 3 receptor (NK3R) antagonist for the treatment of menopausal vasomotor symptoms (VMS), based on an analysis of the pharmacokinetic and pharmacodynamic data from the ongoing single ascending dose portion of the Phase 1 study being conducted in healthy male volunteers.

…Given the Company’s limited expected financing options, Millendo’s Board of Directors has determined that it is in the best interests of the Company’s shareholders to explore an expanded range of strategic alternatives that include, but are not limited to, the potential sale or merger of the Company or its assets. Millendo will continue working with SVB Leerink to assist in its ongoing strategic process.

Curiously, this is the second time MLND has issued a PR to announce “strategic options” — the first time was in Jun 2020 (#msg-156462857).