Mast Therapeutics Inc (NYSEMKT:MSTX) stated that its assessment of strategic options comprises a possible reverse merger deal with a privately-held company. It stated that it has obtained numerous written indications of interest from firms with synergistic clinical-stage product aspirants. The company is even exploring methods to monetize ifs vepoloxamer assets, covering licensing agreements. Shares cratered in September following vepoloxamer failed a late-stage trial in sickle cell disease.
Mast Therapeutics, a clinical-stage biopharmaceutical firm, offered an update pertaining its recently reported campaign to assess strategic opportunities. The first update is related to preliminary indications of inclination towards reverse merger deals. As per this update, the firm has obtained numerous written indications of interest from a number of privately-held firms, including businesses with synergistic clinical-stage drug applicants, and is actively assessing these opportunities.
Concurrently, the firm will continue to explore means to usefully monetize its vepoloxamer assets, counting through licensing deals. In parallel with looking for strategic opportunities, the firm will continue to support planned as well as ongoing investigator-sponsored clinical trials of its lead asset, ‘AIR001’, for the cure of patients with heart failure with HFpEF.
The expert speaks
Brian M. Culley, the CEO of Mast Therapeutics, reported that their recently-reported strategic procedure has generated numerous prospects that would be transformative for company. They are expeditiously and diligently assessing these strategic options, which they believe could increase returns for their stockholders. The management also remain thrilled about the potential for ‘AIR001’ in HFpEF and expect more information from investigator-sponsored trials in 2017.
Mast Therapeutics is a publicly listed biopharmaceutical firm headquartered in San Diego. The firm has 2 clinical-stage investigational new medications, vepoloxamer and AIR001. AIR001, a sodium nitrite drug for intermittent inhalation through nebulization, is in Phase II clinical advancement for the treatment of heart failure with HFpEF.
In the last trading session, the stock price of Mast Therapeutics gained more than 3% to close the day at $0.0964.