AVROBIO, Inc. (Nasdaq: AVRO), a leading clinical-stage gene therapy company, has announced its intention to explore strategic alternatives in order to maximize shareholder value. After conducting a thorough review of its business, the company has decided to temporarily pause the development of its programs and focus on this exploration process.
During this evaluation period, AVROBIO will consider various options including acquisitions, mergers, business combinations, and other transactions. However, it is important to note that there is no guarantee that any of these alternatives will be pursued or that a transaction will ultimately take place. AVROBIO does not have a specific timeline for completing the evaluation process and will only provide further updates if necessary.
The decision to explore strategic alternatives aligns with AVROBIO's goal of freeing individuals from genetic diseases through gene therapy. By maximizing shareholder value, the company can ensure continued progress towards fulfilling its mission.
It should be noted that this press release contains forward-looking statements and highlights the potential risks and uncertainties associated with the evaluation process and potential transactions.