Fresh Tracks spikes almost 70% after announcing review of strategic options

Shares of Fresh Tracks Therapeutics, a clinical-stage pharmaceutical company, are up 70% or $1.22 per share in late trading on Tuesday to approximately $3.05 per share after the company announced it was evaluating FRTX-02 in healthy subjects, and saying the board approved a strategic review. "FRTX-02 is a potent, highly selective, and orally bioavailable potential first-in-class DYRK1A inhibitor that aims to restore immune balance by modulating both adaptive and innate immune responses in patients with autoimmune and inflammatory diseases. In parallel, the Company’s Board of Directors approved a comprehensive process to explore and evaluate strategic options to progress the development of its novel pipeline to maximize shareholder value," said the company in a release