eFFECTOR Therapeutics (EFTR) has terminated its employees and will wind down operations, including seeking potential strategic alternatives for the company's development programs. The decision was made at a special meeting of the board. Also, the company plans to voluntarily request a delisting of its securities and expects its securities to be delisted in the near term.
The board appointed Craig Jalbert as the company's CEO, President, Treasurer and Secretary, and sole member of the board. Jalbert has served as a principal of the Foxborough, Massachusetts accounting firm of Verdolino & Lowey, P.C.
Shares of eFFECTOR are down 65% in pre-market trade on Monday.
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