Cyclerion Therapeutics (CYCN) Stock Increases Over 10%: Details

By Amit Chowdhry ● Nov 22, 2022
  • The stock price of Cyclerion Therapeutics (CYCN) increased by over 10% pre-market today. This is why.

The stock price of Cyclerion Therapeutics (CYCN) increased by over 10% pre-market today.

Why: Cyclerion Therapeutics announced that the Board of Directors of the company acting solely by all of its independent and disinterested members has reviewed the non-binding and unsolicited proposal received on November 20, 2022, from a group that includes the company’s chief executive officer, to among other things purchase certain assets of the company. After consultation with its legal and financial advisors, the Independent Board has unanimously concluded that the proposal is not in the best interest of the company.