AVROBIO To Conduct Exploration Of Strategic Alternatives - Quick Facts

(RTTNews) - AVROBIO, Inc. (AVRO) said the company has decided to halt further development of its programs and to conduct a comprehensive exploration of strategic alternatives focused on maximizing shareholder value. As part of the evaluation process, the company will explore potential strategic alternatives that may include, but are not limited to, an acquisition, merger, business combination, or other transaction. AVROBIO noted that the company has not set a timetable for completion of the evaluation process.

In June, AVROBIO announced the closing of the previously announced agreement to sell its investigational hematopoietic stem cell gene therapy program for cystinosis to Novartis for $87.5 million in cash.