Welcome to our dedicated page for MLND news (Ticker: MLND), a resource for investors and traders seeking the latest updates and insights on MLND stock.
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Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of MLND's position in the market.
Tempest Therapeutics, Inc. and Millendo Therapeutics (Nasdaq: MLND) have announced a definitive agreement for a merger, creating a combined entity focused on advancing Tempest’s oncology pipeline. This all-stock transaction will see Millendo renamed Tempest Therapeutics upon closure, with shareholders approving the merger projected for the first half of 2021. Tempest has secured a $30 million PIPE financing to support development. Millendo stockholders will own about 18.5% of the new entity, while Tempest shareholders will own approximately 81.5%.
Millendo Therapeutics (Nasdaq: MLND) has announced the discontinuation of its investment in MLE-301, a neurokinin 3 receptor antagonist aimed at treating menopausal vasomotor symptoms. This decision follows the analysis of Phase 1 study data, indicating inadequate support for further development in menopausal women. The Board plans to explore strategic alternatives, including a potential sale or merger, to maximize shareholder value. Additionally, the company may reduce operating costs and its workforce to conserve cash, citing limited financing options.
