Aerovate Therapeutics to explore strategic alternatives

Aerovate Therapeutics, which previously announced it was halting enrollment and shutting down the Phase 3 portion of the Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial as well as the long-term extension study, announced that it will conduct a comprehensive review of strategic alternatives focused on maximizing shareholder value. As part of this review process, Aerovate has engaged Wedbush PacGrow as the company’s exclusive strategic financial advisor to assist in the process of exploring strategic alternatives, which may include but are not limited to, an acquisition, merger, reverse merger, business combination, liquidation or other transaction. There can be no assurance that this review process will result in Aerovate pursuing a transaction or that any transaction, if pursued, will be completed on attractive terms. Aerovate has not set a timetable for completion of this review process and does not intend to comment further unless or until the Board of Directors has approved a definitive course of action, the review process is concluded, or it is determined that other disclosure is appropriate.