Graybug To Review Strategic Alternatives Including Sale

(RTTNews) - Graybug Vision, Inc. (GRAY), a clinical-stage biopharmaceutical company focused on ocular diseases, on Tuesday announced that it is exploring strategic alternatives including sale of the company.

As part of this process, the company would explore the potential for an acquisition, company sale, merger, divestiture of assets, private placement of equity securities, or other strategic transactions.

Graybug has retained Piper Sandler Companies to act as its financial advisor to assist with this review process.

As of March 31, 2022, the company's cash, cash equivalents, and short-term investments totaled $55.3 million.

Shares of Graybug Vision are trading in pre-market at $1.03, up $0.20 or 24.53 percent from the previous close.