29th Nov 2018 11:16
LONDON (Alliance News) - Realm Therapeutics PLC said Thursday it is in advanced negotiations to sell some of its assets, as it separately contemplates a reverse merger.
The biopharmaceutical company is in advanced talks to sell its platform of stabilized high concentration hypochlorous acid or HOCI assets. The assets for sale include an anti-itch gel and the royalty stream from its Vashe wound care products.
An update on the sale of the HOCI-related assets is expected in early 2019.
Furthermore, Realm said it has "received multiple indications of interest which include a potential sale of the company, contemplated as a reverse merger" and has selected a transaction shortlist.
An update on this possible reverse merger is expected in the first 2019 quarter.
As at October 31, Realm's cash, cash equivalents, and short-term investments stood at USD20 million.
"Realm continues to assess all options available to the company to maximize shareholder value. There can be no certainty that any transaction will ensue from the formal sale process whether as a reverse merger or through the on-going efforts to monetize the HOCl assets," the company said.
Shares in Realm were up 3.7% at 9.85 pence on Thursday.