Two privately held biotechs on Tuesday announced plans for reverse mergers, transactions that provide a faster route to go public than a conventional IPO and also give struggling public companies a chance to recoup some value for their shareholders.
San Diego regenerative medicine company Histogen announced an agreement to gain a Nasdaq listing through a merger with Conatus Pharmaceuticals (NASDAQ: CNAT). That biotech, also based in San Diego, cut its staff by 40 percent and said it would explore strategic options last summer after its experimental treatment for nonalcoholic steatohepatitis failed to beat a placebo in a mid-stage clinical trial…. Read more »
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