Debt ReductionThe sale of the China business to Kaixin allows the company to eliminate $20M of existing debt, improving its financial position.
Product DevelopmentCID-103 has shown superior activity and reduced toxicity compared to existing CD38 inhibitors in preclinical and Phase 1 studies, indicating strong potential for successful development.
Strategic ManagementThe appointment of David Cory as the company’s new CEO, who has more than 30 years of experience in the biotech and pharma sectors, is seen as beneficial for the company’s new direction.