MabVax Therapeutics to Explore Strategic Options

MabVax Therapeutics Holdings shares were 1% lower in pre-market trade after the clinical-stage immuno-oncology drug development company said it plans to hire an independent financial advisory firm to assist in exploring and evaluating strategic options with the goal of maximizing shareholder value.

The company said that options currently being considered could include the acquisition of MabVax by another company, the sale or divestiture of specific assets, merging with another company, licensing of selected technologies or a combination of selected divestitures followed by a reverse merger. MabVax said it does not have a defined timeline for the exploration of strategic alternatives and is not confirming that the evaluation will result in any strategic alternative being announced or consummated.

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