Biotechnology company Lipid Sciences Inc. (LIPD), said Tuesday that its board has authorized the management to explore a broad range of strategic options in order to maximize shareholder value.
Lipid Sciences indicated options that include corporate partnerships and joint ventures, as well as a merger or sale of the company or its assets.
Lewis Meyer, President and Chief Executive Officer said, "This initiative is a logical next step in the Company's efforts to capitalize on its strong base of innovative development programs and intellectual property that is focused on the treatment of cardiovascular disease as well as diseases caused by a wide variety of lipid-enveloped viruses."
The Pleasanton, California based company has retained the services of Rodman & Renshaw LLC as financial adviser to assist with the process and to continue discussions that the company is having with potential partners and acquirers.
LIPD is currently trading at $0.43, up 2 cents or 4.85%.
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