Aerovate To Begin Review Of Strategic Alternatives

(RTTNews) - Aerovate Therapeutics, Inc. (AVTE) announced on Monday that it will conduct a comprehensive review of strategic alternatives with a focus to maximize shareholder value.

The company has engaged Wedbush PacGrow as the company's exclusive strategic financial advisor to assist in the process, which may include but are not limited to, an acquisition, merger, reverse merger, business combination, and others.

Earlier, the drug maker had announced its decision to halt enrollment and shutdown of the Phase 3 portion of the Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial as well as the long-term extension study.

AVTE was trading up by 3.11 percent at $1.660 in the pre-market trade on the Nasdaq.