Gritstone Oncology ( (GRTS) ) has shared an update.
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Gritstone bio, Inc., a biotech firm specializing in potent vaccines, has voluntarily filed for Chapter 11 bankruptcy to restructure and preserve its value while continuing operations. This move is part of a strategic process to explore alternatives and secure a stalking horse bidder to maximize value, demonstrating commitment to advancing clinical programs. Despite the filing, the company aims to maintain normal operations and minimize impact on stakeholders, continuing its mission to develop innovative immunotherapies and vaccines for oncology and infectious diseases.
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