Cerulean Pharma Inc (NASDAQ:CERU)’s may be riding a rollercoaster in the stock market of late, but recently its shares were on an all-time flight with some real show. The company’s recent press release regarding the engagement of investment bank, Aquilo Partners, L.P. working as the financial advisor in strategic review, sent the shares on cloud nine. Company’s stock has gained momentum since then, so much that there has been a jump in interest as well. A few days ago, the company’s stock was ripping 63% and its transaction volume was just a little less than 760%.
Strategic review and volatility in the stock
The company’s intentions over the review can be attributed to a possible deal. But then, we are also not denying the fact that there may be no deal at all. However, the review does give us a few indications towards possible mergers, strategic investment into another company, business combination or complete sell-off of this company. There are also chances that the company might look for license or even assets disposition.
If we do look at the clinical assets, the company states that its board is looking for NDC and cash reserves. As far as the clinical assets are concerned, the company’s strategic review may include platform-generated NDC programs, CRLX301 and CRLX101. Its NDC platform includes Dynamic Tumor Targeting Platform, meant for facilitating effective cancer treatments or therapies.
Deal or no deal, the shares do not bother
In its press release, Cerulean Pharma Inc has already warned that there might not be any deal at all. However, the shares of company are since then, on a momentum. Since August 2016, the company’s shares have been rotting in the market; especially on the backdrop of failed Phase 2 trial of its lead drug for liver cancer patients.
Furthermore, the company has even slashed its workforce. Moving from 55 employees to 23 and now finally, 19 employees, Cerulean Pharma Inc is hoping for more savings. What’s going on inside and whether there shall be a deal or not is something to look for in the recent times to come.