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GNI Group ( (JP:2160) ) has shared an update.
GNI Group announced that its major subsidiary Cullgen Inc. and U.S.-listed Pulmatrix, Inc. have mutually waived the “no solicitation” clause in their reverse merger agreement intended to facilitate Cullgen’s Nasdaq listing. The change allows both parties to keep pursuing regulatory approval for the merger from the China Securities Regulatory Commission while simultaneously exploring alternative strategic transactions that could be more advantageous, signaling flexibility in dealmaking and potential changes to Cullgen’s route to international capital markets if CSRC approval continues to be delayed.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2311.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
More about GNI Group
GNI Group Ltd. is a Japan-listed biopharmaceutical group (TSE Growth: 2160) engaged in drug development through consolidated subsidiaries including Cullgen Inc., which focuses on innovative therapeutics and overseas capital markets access, including a planned Nasdaq listing.
Average Trading Volume: 1,104,060
Technical Sentiment Signal: Hold
Current Market Cap: Yen132.4B
For an in-depth examination of 2160 stock, go to TipRanks’ Overview page.