Generation Bio soars as it explores strategic alternatives

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Alistair Berg

Generation Bio (NASDAQ:GBIO [https://seekingalpha.com/symbol/GBIO]) jumped 45% as the company announced it would review strategic alternatives.

The company retained TD Cowen to act as an advisor, Generation Bio (NASDAQ:GBIO [https://seekingalpha.com/symbol/GBIO]) said on Tuesday in a statement. [https://seekingalpha.com/pr/20198600-generation-bio-announces-new-data-for-its-novel-ctlnp-delivery-system-and-early-t-cell] Alternatives that may be explored include, but are not limited to, an acquisition, merger, business combination, sale of assets, or other strategic transactions.

The company has not set a timetable for completing the review process and doesn't intend to disclose further developments unless it determines that disclosure is warranted.

Generatio Bio (GBIO [https://seekingalpha.com/symbol/GBIO]) also announced that it would initiate a strategic restructuring in mid-August, which is expected to result in a 90% reduction in its workforce by the end of October, including the research and development organization.

MORE ON GENERATION BIO

* Seeking Alpha’s Quant Rating on Generation Bio [https://seekingalpha.com/symbol/GBIO/ratings/quant-ratings]
* Historical earnings data for Generation Bio [https://seekingalpha.com/symbol/GBIO/earnings]
* Financial information for Generation Bio [https://seekingalpha.com/symbol/GBIO/income-statement]