NEWS (PM)
eFFECTOR Therapeutics Announces it will Wind Down Operations as it Seeks Strategic Alternatives and Expects to be Delisted from Nasdaq
eFFECTOR Therapeutics (NASDAQ: EFTR) announced it will wind down operations and explore strategic alternatives for its development programs. The decision, made during a special board meeting, involves terminating employees and preparing for delisting from Nasdaq. The company acknowledges non-compliance with Nasdaq's listing requirements and plans to request voluntary delisting soon. Craig R. Jalbert, an expert in distressed businesses, has been appointed as CEO, President, Treasurer, Secretary, and sole board member to oversee the wind-down process. Jalbert has extensive experience managing companies in their wind-down phases.
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