Nivalis Therapeutics Announces Review of Strategic Alternatives
January 03 2017 - 6:00PM
Nivalis Therapeutics, Inc. (NASDAQ:NVLS), a clinical stage
pharmaceutical company focused on developing innovative solutions
for people with cystic fibrosis (CF), today announced that its
Board of Directors has initiated a process to explore and review a
range of strategic alternatives focused on maximizing stockholder
value from its clinical assets and cash resources. Nivalis has
engaged Ladenburg Thalmann & Co. Inc. to act as its strategic
financial advisor for this process. In conjunction with the
exploration of strategic alternatives, the Company also intends to
streamline its operations in order to preserve its capital and cash
resources.
The Board has established a Special Committee to
explore and evaluate strategic alternatives. Potential strategic
alternatives that may be explored or evaluated as part of this
process include the potential for an acquisition, merger, business
combination or other strategic transaction involving the Company.
There can be no assurance, however, that this process will result
in any such transaction.
In parallel with this process, the Company
intends to complete its ongoing SNO-7 trial of cavosonstat in
patients with CF who are currently taking KalydecoTM (ivacaftor),
which is expected to be completed in the first quarter of 2017.
Forward Looking StatementsThis
press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding a potential strategic transaction
and regarding the timing of completion of ongoing clinical trials.
These forward-looking statements are based on management’s current
expectations of future events and involve substantial risks and
uncertainties that could cause actual results to differ materially
and adversely from those set forth in or implied by the
forward-looking statements. These risks and uncertainties include,
among others, the ability of the company to successfully and timely
negotiate and consummate such a transaction on terms that are
favorable to the Company. For a further description of the risks
and uncertainties that could cause actual results to differ from
those expressed in these forward-looking statements, as well as
risks relating to Nivalis’ business in general, see the risk
factors contained in the company’s annual report on Form 10-K filed
with the Securities and Exchange Commission on March 8, 2016, and
in other reports filed by Nivalis with the Securities and Exchange
Commission. All information in this press release is as of the date
of this release, and Nivalis undertakes no duty to update or revise
this information unless required by law.
Investor Relations
John Graziano
1-646-378-2942
jgraziano@troutgroup.com
Media Relations
Lindsay Rocco
1-862-596-1304
lrocco@elixirhealthpr.com
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