BUZZ-Unity Biotechnology slips as co faces Nasdaq delisting, plans dissolution
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Unity Biotechnology's shares fell 8% to 71 cents after Nasdaq notified the company of its delisting due to being classified as a "public shell" with no operating business. The board has approved a plan for dissolution, with CEO, CFO, and Chief Legal Officer stepping down. Craig Jalbert is now the sole director, receiving $10,000 monthly until dissolution approval, then $50,000 annually for three years. The company is exploring ways to monetize its assets but has not found viable alternatives. Year-to-date, the stock is down 21%.
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