Graybug Vision Inc. (GRAY)

[TruckingAngler]

6/28 - GRAY $53m investment + retaining Piper Sandler is all UP from here..

“Graybug Announces Review Of Strategic Alternatives.
Graybug Vision, Inc. (NASDAQ:GRAY), a clinical-stage biopharmaceutical company focused on developing transformative medicines for the treatment of ocular diseases, today announced that its Board of Directors will conduct a comprehensive review of strategic alternatives focused on maximizing shareholder value.

As part of this process, the Company will explore the potential for an acquisition, company sale, merger, divestiture of assets, private placement of equity securities, or other strategic transactions. As of March 31, 2022, the company's cash, cash equivalents, and short-term investments totaled $55.3 million. Graybug has retained Piper Sandler Companies to act as its financial advisor to assist with this review process.

'The goal of this strategic evaluation process is to ensure that we are exploring a range of possible options to maximize value for our shareholders while leveraging our diversified pipeline and experienced team. Pending the outcome of this review, cost-containment measures are being put in place to maximize our cash resources available,' said Frederic Guerard, PharmD, Chief Executive Officer of Graybug.”

GLTA