Third Harmonic Bio Announces Plan of Liquidation and Dissolution
Third Harmonic Bio (Nasdaq: THRD) has announced its Board of Directors' approval of a Plan of Liquidation and Dissolution, subject to stockholder approval at the Annual Meeting on June 5, 2025. The company plans to distribute remaining cash to stockholders and sell its assets, including the THB335 program.
The initial distribution is expected to be between $246.6 million and $255.4 million (approximately $5.13-$5.33 per share) in Q3 2025. The total distribution could reach between $246.6 million and $259.8 million ($5.13-$5.42 per share), not including potential proceeds from asset sales.
Following stockholder approval, the company intends to file a Certificate of Dissolution, delist from Nasdaq, resolve remaining liabilities, and convert assets to cash. The company will complete Phase 2 readiness activities for THB335 by mid-year to maximize potential value from the asset sale process.
Third Harmonic Bio (Nasdaq: THRD) ha annunciato l'approvazione da parte del Consiglio di Amministrazione di un Piano di Liquidazione e Dissoluzione, soggetto all'approvazione degli azionisti durante l'Assemblea Annuale del 5 giugno 2025. L'azienda prevede di distribuire il denaro residuo agli azionisti e di vendere i propri beni, incluso il programma THB335.
La distribuzione iniziale è prevista tra 246,6 milioni di dollari e 255,4 milioni di dollari (circa 5,13-5,33 dollari per azione) nel terzo trimestre del 2025. La distribuzione totale potrebbe raggiungere tra 246,6 milioni di dollari e 259,8 milioni di dollari (5,13-5,42 dollari per azione), escludendo i potenziali proventi dalla vendita degli asset.
Dopo l'approvazione degli azionisti, l'azienda intende presentare un Certificato di Dissoluzione, uscire da Nasdaq, risolvere le passività residue e convertire i beni in denaro. L'azienda completerà le attività di preparazione della Fase 2 per il THB335 entro metà anno per massimizzare il valore potenziale dal processo di vendita degli asset.
Third Harmonic Bio (Nasdaq: THRD) ha anunciado la aprobación por parte de su Junta Directiva de un Plan de Liquidación y Disolución, sujeto a la aprobación de los accionistas en la Junta Anual el 5 de junio de 2025. La empresa planea distribuir el efectivo restante a los accionistas y vender sus activos, incluido el programa THB335.
Se espera que la distribución inicial esté entre 246,6 millones de dólares y 255,4 millones de dólares (aproximadamente 5,13-5,33 dólares por acción) en el tercer trimestre de 2025. La distribución total podría alcanzar entre 246,6 millones de dólares y 259,8 millones de dólares (5,13-5,42 dólares por acción), sin incluir los posibles ingresos de la venta de activos.
Tras la aprobación de los accionistas, la empresa tiene la intención de presentar un Certificado de Disolución, salir de Nasdaq, resolver las pasivos restantes y convertir los activos en efectivo. La empresa completará las actividades de preparación de la Fase 2 para el THB335 a mediados de año para maximizar el valor potencial del proceso de venta de activos.
Third Harmonic Bio (Nasdaq: THRD)는 이사회가 2025년 6월 5일 연례 회의에서 주주 승인에 따라 청산 및 해산 계획을 승인했다고 발표했습니다. 회사는 남은 현금을 주주에게 분배하고 THB335 프로그램을 포함한 자산을 판매할 계획입니다.
초기 분배는 2025년 3분기에 2억 4,660만 달러에서 2억 5,540만 달러(주당 약 5.13-5.33달러) 사이일 것으로 예상됩니다. 총 분배는 자산 판매로 인한 잠재적 수익을 제외하고 2억 4,660만 달러에서 2억 5,980만 달러(주당 5.13-5.42달러)까지 도달할 수 있습니다.
주주 승인이 완료되면 회사는 해산 증명서를 제출하고 Nasdaq에서 상장 폐지하며, 남은 부채를 해결하고 자산을 현금으로 전환할 예정입니다. 회사는 자산 판매 과정에서 최대 가치를 확보하기 위해 THB335의 2단계 준비 작업을 연중반까지 완료할 것입니다.
Third Harmonic Bio (Nasdaq: THRD) a annoncé l'approbation par son Conseil d'Administration d'un Plan de Liquidation et de Dissolution, soumis à l'approbation des actionnaires lors de l'Assemblée Générale Annuelle le 5 juin 2025. L'entreprise prévoit de distribuer les liquidités restantes aux actionnaires et de vendre ses actifs, y compris le programme THB335.
La distribution initiale devrait se situer entre 246,6 millions de dollars et 255,4 millions de dollars (environ 5,13-5,33 dollars par action) au troisième trimestre 2025. La distribution totale pourrait atteindre entre 246,6 millions de dollars et 259,8 millions de dollars (5,13-5,42 dollars par action), sans inclure les éventuels produits de la vente d'actifs.
Après approbation des actionnaires, l'entreprise a l'intention de déposer un Certificat de Dissolution, de se retirer de Nasdaq, de régler les passifs restants et de convertir les actifs en liquidités. L'entreprise finalisera les activités de préparation de la Phase 2 pour le THB335 d'ici le milieu de l'année afin de maximiser la valeur potentielle du processus de vente des actifs.
Third Harmonic Bio (Nasdaq: THRD) hat die Genehmigung des Vorstands für einen Liquidations- und Auflösungsplan bekannt gegeben, der der Zustimmung der Aktionäre auf der Hauptversammlung am 5. Juni 2025 unterliegt. Das Unternehmen plant, verbleibendes Bargeld an die Aktionäre zu verteilen und seine Vermögenswerte, einschließlich des THB335-Programms, zu verkaufen.
Die erste Verteilung wird voraussichtlich zwischen 246,6 Millionen und 255,4 Millionen Dollar (ungefähr 5,13-5,33 Dollar pro Aktie) im 3. Quartal 2025 liegen. Die Gesamtverteilung könnte zwischen 246,6 Millionen und 259,8 Millionen Dollar (5,13-5,42 Dollar pro Aktie) erreichen, ohne mögliche Erlöse aus dem Verkauf von Vermögenswerten.
Nach der Genehmigung durch die Aktionäre beabsichtigt das Unternehmen, ein Auflösungszertifikat einzureichen, sich von Nasdaq abzulisten, verbleibende Verbindlichkeiten zu begleichen und Vermögenswerte in Bargeld umzuwandeln. Das Unternehmen wird die Vorbereitungsaktivitäten für Phase 2 des THB335 bis zur Jahresmitte abschließen, um den potenziellen Wert des Verkaufsprozesses zu maximieren.
- Clear distribution timeline with specific per-share values ($5.13-$5.33) for Q3 2025
- Completion of Phase 2 readiness activities for THB335 to maximize asset value
- Sufficient capital resources to meet remaining liabilities and obligations
- Complete dissolution of the company and delisting from Nasdaq
- Uncertainty regarding final asset sale values, including THB335
- Distribution amounts may vary based on multiple factors and contingent liabilities
Insights
The announcement of Third Harmonic Bio's liquidation plan represents a significant positive development for shareholders despite signaling the end of the company's operations. The planned distribution of
The company's Board has determined that returning cash to shareholders through liquidation offers superior value compared to continuing operations or other strategic alternatives. The initial distribution of
The outlined liquidation process demonstrates disciplined capital allocation by management. Rather than continuing to burn cash on uncertain development programs, they're returning capital to shareholders while assets still retain value. With a current market cap of approximately
Board of Directors has approved plan to liquidate and intends to seek stockholder approval for dissolution of the Company at the Annual Meeting of Stockholders on June 5, 2025
Initial distribution expected in the range between approximately
Sale of the Company’s assets, including THB335, to be initiated pending stockholder approval of the Plan of Liquidation and Dissolution
SAN FRANCISCO, April 14, 2025 (GLOBE NEWSWIRE) -- Third Harmonic Bio, Inc. (Nasdaq: THRD) today announced that the Company’s board of directors, after considering opportunities to maximize stockholder value, has approved and adopted a Plan of Liquidation and Dissolution (the “Plan of Dissolution”) for the liquidation and dissolution of the Company and the distribution of remaining cash to stockholders following an orderly wind down of the Company’s operations, including any proceeds from a sale of the Company’s assets and intellectual property, including but not limited to the THB335 program. Per previous financial and operational guidance, the Company will complete all Phase 2 readiness activities for THB335 by mid-year to maximize the value of the program that may be obtained for stockholders in the asset sale process. If its stockholders authorize the dissolution, the Company currently plans to file a Certificate of Dissolution with the Secretary of the State of Delaware in the third quarter of 2025.
“Our management team and board of directors together have completed an efficient review of our strategic alternatives for maximizing the value of our assets and have determined that returning cash to shareholders and selling our assets, including THB335, is the best path forward,” said Natalie Holles, Chief Executive Officer of Third Harmonic Bio. “We are proud of the work that our team has done over the past years to advance our science, to make tough decisions, and to act with integrity in the best interest of our patients and shareholders.”
Plan of Liquidation and Dissolution
On April 10, 2025, the Board of Directors unanimously approved the dissolution and liquidation of the Company, subject to stockholder approval, pursuant to the Plan of Dissolution. The Company intends to hold its annual meeting of stockholders on June 5, 2025, at which it will seek stockholder approval of the Plan of Dissolution. If the Company’s stockholders approve the Plan of Dissolution, the Company currently intends to file a Certificate of Dissolution, delist its shares of common stock from The Nasdaq Global Select Market, satisfy or resolve its remaining liabilities and obligations, including but not limited to contingent liabilities and claims and costs associated with the dissolution and liquidation, make reasonable provisions for unknown claims and liabilities, and attempt to convert all of its remaining assets into cash or cash equivalents. Upon the filing of the Certificate of Dissolution, the Company intends to cease trading in its common stock, close its stock transfer books and discontinue recording transfers of shares of its capital stock, in accordance with applicable law. The Company will establish a reserve, which will be used to pay all expenses (including operating expenses up until the filing of the Certificate of Dissolution) and other known, non-contingent liabilities and obligations, and will include reasonable provision for future expenses of liquidation and contingent and unknown liabilities as required by Delaware law. The Company currently expects that its existing capital resources together with the anticipated net proceeds from the sale of certain clinical assets will enable it to meet its remaining liabilities and obligations with sufficient reserves. Based on the information currently available to the Company and if the stockholders approve the dissolution, the Company estimates that the total distribution will be in the range between approximately
Notwithstanding the foregoing, even if the stockholders of the Company authorize the Plan of Dissolution, the Company’s Board of Directors will have the right to abandon and terminate the Plan of Dissolution at any time before it becomes effective, without any action by our stockholders, if the Board of Directors determines that to do so is in the best interest of the Company and its stockholders.
IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed liquidation and dissolution of the Company and the Plan of Dissolution, the Company intends to file a proxy statement and other relevant materials with the SEC. Once available, the definitive proxy statement will be sent to the Company’s stockholders and will contain important information about the planned dissolution. INVESTORS AND STOCKHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE. Investors and stockholders may obtain a free copy of the proxy statement (when it is available) and other documents filed with the SEC at the SEC's website at www.sec.gov.
Participants in the Solicitation
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from stockholders of the Company in connection with the proposed liquidation and dissolution, the Plan of Dissolution and related matters. Information about the persons who may be considered to be participants in the solicitation of the Company's stockholders in connection with its planned dissolution, and any interest they have in the proposed liquidation and dissolution, the Plan of Dissolution and related matters, will be set forth in the definitive proxy statement when it is filed with the SEC. Further information about the Company’s directors and executive officers is set forth in its preliminary proxy statement for the Company’s 2025 annual meeting of stockholders filed with the U.S. Securities and Exchange Commission (“SEC”) on April 14, 2025. These documents may be obtained for free at the SEC’s website at www.sec.gov.
Forward Looking Statements
This press release contains “forward-looking” statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the dissolution and Plan of Dissolution, the timing and amount of any distribution to the Company’s stockholders pursuant to the Plan of Dissolution, the Company’s strategic review process, and the Company’s ability to enter into any agreements or transactions for the sale of its remaining assets and intellectual property, including THB335, or if entered into, that any such agreements or transactions will be successful or on attractive terms. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. These statements are subject to numerous risks and uncertainties, including risks and uncertainties related to the availability, timing and amount of the distribution to stockholders in connection with the dissolution; the amounts that will need to be set aside by the Company; the adequacy of such reserves to satisfy the Company’s obligations; the Company’s ability to favorably resolve potential tax claims, any litigation matters and other unresolved contingent liabilities; the amount of proceeds that might be realized from the sale or other disposition of the Company’s assets, including THB335; the application of, and any changes in, applicable tax laws, regulations, administrative practices, principles and interpretations; the incurrence of expenses relating to the dissolution; the Company’s ability to retain employees, consultants and other resources required to carry out the dissolution; and the ability of the board of directors to abandon, modify or delay implementation of the Plan of Dissolution, even after stockholder approval, that could cause actual results to differ materially from what the Company expects. Further information on potential risk factors that could affect the Company’s business and its financial results are detailed under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 27, 2025, and in the Company’s other filings filed from time to time with the SEC. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Investor Contact:
Chris Murphy
cmurphy@thirdharmonicbio.com
Media Contact:
Lori Murray
lori.murray@thirdharmonicbio.com
FAQ
What is the expected initial distribution per share for THRD stockholders?
When will Third Harmonic Bio (THRD) stockholders vote on the dissolution plan?
What happens to THRD stock after the Certificate of Dissolution is filed?
What is the total expected distribution range for THRD shareholders?
What will happen to Third Harmonic Bio's THB335 program?
