Cyclerion Therapeutics to Sell Assets for $81M, CEO Transition To New Spin-Off Private Company Established By Shareholders, New Investors
Cyclerion Therapeutics to Sell Assets for $81M, CEO Transition To New Spin-Off Private Company Established By Shareholders, New Investors
Cyclerion Therapeutics Inc (NASDAQ:CYCN) has agreed to sell two of its assets - zagociguat (formerly CY6463) and CY3018, to a new private company ("NewCo") formed by certain current Cyclerion shareholders and new investors who have agreed to invest $81 million.
Cyclerion Therapeu 纳斯达克股票代码：CYCN）已同意将其两项资产——zagociguat（前身为 CY6463）和 CY3018 出售给一家由某些现任Cyclerion股东和同意投资8100万美元的新投资者组成的新私营公司（“NewCo”）。
Cyclerion will receive $8 million as reimbursement for all expenses related to zagociguat and CY3018 between the signing and closing of the transaction and 10% equity ownership in NewCo.
Cyclerion将获得800万美元的报销，用于支付从交易签署到完成之间与zagociguat和 CY3018 有关的所有费用，以及NewCo的10％股权。
Cyclerion will also have additional future equity purchase rights in NewCo.
Cyclerion未来还将拥有NewCo的额外股权购买权。
Upon approval of the current transaction by Cyclerion shareholders, Peter Hecht will transition out of his Cyclerion CEO role and join NewCo as its CEO. Dr.
在Cyclerion股东批准当前交易后，彼得·赫希特将辞去Cyclerion首席执行官一职，加入NewCo担任首席执行官。博士
Hecht, a major Cyclerion shareholder, will continue to serve as a Cyclerion Director. Cyclerion has initiated a search to bring in a new leader.
Cyclerion的主要股东赫希特将继续担任Cyclerion的董事。Cyclerion已开始寻找新的领导者。
In its Q1 earnings release, the company said it is also seeking a partnership for olinciguat, an oral, once-daily, peripheral sGC stimulator, as a potential treatment for cardiovascular diseases.
该公司在第一季度财报中表示，它还在寻求合作开发olinciguat（一种每日一次的口服外周血干细胞刺激剂）作为心血管疾病的潜在治疗方法。
Cash, cash equivalents, and restricted cash balance on March 31, 2023, was approximately $7.2 million.
2023 年 3 月 31 日，现金、现金等价物和限制性现金余额约为 720 万美元。
The signing of the agreement triggered the previously announced $5 million equity investment by CEO Peter Hecht.
该协议的签署引发了首席执行官彼得·赫希特先前宣布的500万美元股权投资。
Hecht will receive a mix of common stock and nonvoting convertible preferred stock of Cyclerion at a minimum purchase price of $0.434 per share.
Hecht将获得Cyclerion的普通股和无表决权可转换优先股的混合股份，最低购买价格为 每股 0.434 美元。
The proceeds from this investment and the $8 million upfront from the sale of assets are expected to support ongoing operations for at least 12 months post-closing the transaction.
这项投资的收益和出售资产的800万美元预付资金预计将在交易完成后的至少12个月内为持续运营提供支持。
Price Action: CYCN shares are down 16.10% at $0.25 on the last check Friday.
价格走势： 在周五的最后一张支票上，CYCN股价下跌了16.10％，至0.25美元。
译文内容由第三方软件翻译。