Cyclacel Pharmaceuticals Announces Its Exploration of Potential Strategic Alternatives and Reduction of Operating Costs
Cyclacel Pharmaceuticals (NASDAQ: CYCC) announced it is exploring strategic alternatives to preserve cash, including a potential transaction with investor David Lazar of Activist Investing, , subject to existing securityholder consent. The company's Board is reviewing strategies to realize value from assets and has directed management to reduce operating costs.
The company currently does not meet Nasdaq's continued listing requirements and faces potential delisting if compliance is not regained. Without securing a strategic transaction or additional funding, Cyclacel may be forced to cease operations, potentially resulting in stockholders losing part or all of their investment.
Cyclacel Pharmaceuticals (NASDAQ: CYCC) ha annunciato di essere alla ricerca di alternative strategiche per preservare la liquidità, inclusa una potenziale transazione con l'investitore David Lazar di Activist Investing, soggetta al consenso degli attuali azionisti. Il consiglio di amministrazione dell'azienda sta esaminando strategie per realizzare valore dagli asset e ha incaricato la direzione di ridurre i costi operativi.
L'azienda attualmente non soddisfa i requisiti per la continua quotazione su Nasdaq e potrebbe affrontare una potenziale delisting se non riesce a ripristinare la conformità. Senza la sicurezza di una transazione strategica o di un ulteriore finanziamento, Cyclacel potrebbe essere costretta a cessare le operazioni, con il rischio che gli azionisti perdano parte o tutto il loro investimento.
Cyclacel Pharmaceuticals (NASDAQ: CYCC) anunció que está explorando alternativas estratégicas para preservar efectivo, incluida una posible transacción con el inversionista David Lazar de Activist Investing, sujeta al consentimiento de los accionistas existentes. La junta de la compañía está revisando estrategias para realizar valor de los activos y ha indicado a la gerencia que reduzca los costos operativos.
Actualmente, la empresa no cumple con los requisitos de Nasdaq para seguir cotizando y se enfrenta a una posible exclusión si no recupera el cumplimiento. Sin asegurar una transacción estratégica o financiamiento adicional, Cyclacel podría verse obligada a cesar operaciones, lo que podría resultar en que los accionistas pierdan parte o toda su inversión.
사이클라셀 제약 (NASDAQ: CYCC)는 현금을 보존하기 위해 전략적 대안을 모색하고 있으며, 현재 주주 동의를 조건으로 Activist Investing의 투자자인 David Lazar와의 잠재적인 거래를 포함하고 있습니다. 회사 이사회는 자산에서 가치를 실현하기 위한 전략을 검토하고 있으며, 경영진에게 운영 비용을 줄이도록 지시했습니다.
회사는 현재 나스닥의 계속 상장 요건을 충족하지 못하고 있으며, 준수하지 못할 경우 잠재적인 상장 폐지에 직면해 있습니다. 전략적 거래 또는 추가 자금을 확보하지 않으면 사이클라셀은 운영 중단을 강요당할 수 있으며, 이로 인해 주주들이 그들의 투자액의 일부 또는 전부를 잃을 수 있습니다.
Cyclacel Pharmaceuticals (NASDAQ: CYCC) a annoncé qu'il explore des alternatives stratégiques pour préserver sa trésorerie, y compris une transaction potentielle avec l'investisseur David Lazar d'Activist Investing, sous réserve du consentement des actionnaires existants. Le conseil d'administration de l'entreprise examine des stratégies pour réaliser de la valeur à partir des actifs et a demandé à la direction de réduire les coûts d'exploitation.
L'entreprise ne respecte actuellement pas les exigences de maintien de cotation de Nasdaq et risque une exclusion potentielle si la conformité n'est pas rétablie. Sans sécuriser une transaction stratégique ou un financement supplémentaire, Cyclacel pourrait être contrainte de cesser ses opérations, entraînant potentiellement une perte pour les actionnaires de tout ou partie de leur investissement.
Cyclacel Pharmaceuticals (NASDAQ: CYCC) gab bekannt, dass das Unternehmen strategische Alternativen zur Erhaltung der Liquidität prüft, einschließlich einer potenziellen Transaktion mit dem Investor David Lazar von Activist Investing, vorbehaltlich der Zustimmung der bestehenden Aktionäre. Der Vorstand des Unternehmens überprüft Strategien zur Realisierung von Werten aus den Vermögenswerten und hat das Management angewiesen, die Betriebskosten zu senken.
Das Unternehmen erfüllt derzeit nicht die fortlaufenden Zulassungsvoraussetzungen von Nasdaq und sieht sich einer potenziellen Delistung gegenüber, wenn die Einhaltung nicht wiederhergestellt wird. Ohne eine strategische Transaktion oder zusätzliche Finanzierung könnte Cyclacel gezwungen sein, den Betrieb einzustellen, was möglicherweise dazu führt, dass Aktionäre einen Teil oder ihre gesamte Investition verlieren.
- None.
- Company faces potential delisting from Nasdaq
- Risk of ceasing all business operations
- Need for immediate cost reduction measures
- Cash preservation concerns requiring urgent strategic alternatives
- Potential total loss of shareholder investment
Insights
BERKELEY HEIGHTS, N.J., Dec. 05, 2024 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company"), a biopharmaceutical company developing innovative cancer medicines, today announced that it is in the process of exploring and reviewing strategic alternatives on an expedited basis in order to preserve the Company’s cash, including a potential transaction with investor David Lazar of Activist Investing, LLC, which transaction would be subject to the consent of an existing securityholder.
The Company’s Board of Directors is reviewing a range of appropriate strategies to realize value from its assets. The Board has directed management to reduce operating costs while such alternatives are being explored. There can be no assurance that the exploration of strategic alternatives will result in any agreement or transaction, or as to the timing of any such agreement or transaction. Further, there can be no assurance that the Company will be able to reach an agreement, or consummate a transaction, with Mr. Lazar or receive the required consent of an existing securityholder to any such transaction.
As previously disclosed, the Company does not presently meet the continued listing requirements of the Nasdaq Stock Market and its securities would be subject to delisting if the Company fails to regain compliance during the required compliance period. In the event that the Company is not able to enter into a strategic transaction and/or secure additional funding, it may be forced to cease all business operations. In such event, the Company’s stockholders may lose a part or all of their investment in the Company.
About Cyclacel Pharmaceuticals, Inc.
Cyclacel is a clinical-stage, biopharmaceutical company developing innovative cancer medicines based on cell cycle, transcriptional regulation and mitosis biology. The transcriptional regulation program is evaluating fadraciclib, a CDK2/9 inhibitor, and the anti-mitotic program plogosertib, a PLK1 inhibitor, in patients with both solid tumors and hematological malignancies. Cyclacel's strategy is to build a diversified biopharmaceutical business based on a pipeline of novel drug candidates addressing oncology and hematology indications. For additional information, please visit www.cyclacel.com.
Forward-looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include, among other things, statements related to the Company’s exploration and review of strategic alternatives, its ability to identify and complete a transaction as a result of the strategic review process, including a potential transaction with David Lazar, its plans to reduce costs and conserve cash and Cyclacel’s ability to regain and maintain compliance with Nasdaq’s continued listing requirements. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. These risks and uncertainties include the risk that the Company may not be successful in exploring strategic alternatives and consummating one or more strategic transactions on attractive terms, if at all; the Company’s actual reductions in spending as compared to anticipated cost reductions; the Company’s costs of continuing to operate as a public company; and the other risks described more fully in Cyclacel Pharmaceuticals’ filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ending December 31, 2023 and its other documents subsequently filed with or furnished to the Securities and Exchange Commission, including its Form 10-Q for the quarter ended September 30, 2024. For a further list and description of the risks and uncertainties the Company faces, please refer to our most recent Annual Report on Form 10-K and other periodic and other filings we file with the Securities and Exchange Commission and are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Company: Paul McBarron, (908) 517-7330, IR@cyclacel.com
© Copyright 2024 Cyclacel Pharmaceuticals, Inc. All Rights Reserved. The Cyclacel logo and Cyclacel® are trademarks of Cyclacel Pharmaceuticals, Inc.
FAQ
What strategic alternatives is Cyclacel Pharmaceuticals (CYCC) exploring in December 2023?
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