Graybug Vision (GRAY) Announces Review of Strategic Alternatives

(Updated - June 28, 2022 7:16 AM EDT)

Graybug Vision, Inc. (Nasdaq: GRAY) today announced that its Board of Directors will conduct a comprehensive review of strategic alternatives focused on maximizing shareholder value.

As part of this process, the Company will explore the potential for an acquisition, company sale, merger, divestiture of assets, private placement of equity securities, or other strategic transactions. As of March 31, 2022, the company’s cash, cash equivalents, and short-term investments totaled $55.3 million. Graybug has retained Piper Sandler Companies to act as its financial advisor to assist with this review process.

“The goal of this strategic evaluation process is to ensure that we are exploring a range of possible options to maximize value for our shareholders while leveraging our diversified pipeline and experienced team. Pending the outcome of this review, cost-containment measures are being put in place to maximize our cash resources available,” said Frederic Guerard, PharmD, Chief Executive Officer of Graybug.

There can be no assurance that this process will result in any such transaction, and the Company does not intend to disclose additional details unless and until it has entered into a specific transaction.

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