CohBar Inc (NASDAQ:CWBR) shares are trading lower by 47% to $0.92 Wednesday afternoon. The stock is falling sharply after the company received guidance from Nasdaq that the company and Morphogenesis, Inc's merger agreement would not be approved.
What Else?
After discussions, CohBar decided that there was no viable way to proceed with the merger, and Morphogenesis issued a termination notice in accordance with the agreement. Consequently, CohBar plans to liquidate and dissolve itself.
As of September 30, 2023, CohBar says the company had around $9.1 million in cash, cash equivalents and investments, along with approximately $1.5 million in accrued liabilities.
The exact amount available to return to CohBar's public stockholders is uncertain due to anticipated but unquantifiable liquidation expenses.
According to data from Benzinga Pro, CWBR has a 52-week high of $6.90 and a 52-week low of $0.88.
