Vallon Pharma Up 85% In Pre-market On Exploring Strategic Alternatives

(RTTNews) - Shares in Vallon Pharmaceuticals, Inc. (VLON) are skyrocketing more than 85 percent after the biopharmaceutical company announced Friday it has engaged Ladenburg Thalmann & Co. Inc. to evaluate strategic alternatives for the Company in a bid to maximize shareholder value.

The strategic review process could also include, without limitation, exploring the potential for a possible merger, business combination, investment into the Company, or a purchase, license or other acquisition of assets.

Thompson Hine LLP serves as Vallon's legal counsel and will assist with the exploration of alternatives.

In the meantime, and in conjunction with the exploration of strategic alternatives, the Company is streamlining its operations in order to preserve its capital and cash resources.

VLON closed at $1.13, down $0.04 or 3.42% on Thursday. It is currently trading in pre-market at $2.09, up $0.96 or 84.95%.