Celladon Coverage

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Celladon Coverage

Excerpt from press release:

“Our Board of Directors has unanimously determined that seeking a merger or sale, in lieu of further development of our remaining programs and assets, gives us the best opportunity to maximize shareholder value. We are aggressively pursuing that course,” said Paul Cleveland, president and chief executive officer of Celladon. “If we are unable to identify a merger or sale that provides superior value to our shareholders, we will move forward with a liquidation and distribution of net cash to shareholders.”

The Company currently estimates that if it were to liquidate during the third quarter of 2015, the net cash available for distribution to shareholders would be approximately $25-$30 million. This projection is based on the Company’s current expectations and assumptions, and the actual amount of net cash available for distribution in such a liquidation and distribution could differ materially from the Company’s current estimate.”

Full release

More from various online sources:

FierceBiotech: Celladon pulls the plug on R&D after a crushing gene therapy failure

24/7 Wall St: Can Celladon Weather the Storm?

BioSpace: Celladon Lays Off More Staff, Considers Liquidation in Wake of Gene Therapy Failure

Reuters: Celladon says may liquidate; suspends gene therapy development

June 29th, 2015|