08:44 AM EDT, 07/08/2024 (MT Newswires) -- Aerovate Therapeutics ( AVTE ) said Monday it will consider strategic alternatives following its announcement that it was stopping enrollment and shutting down the phase 3 portion of its Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial and the long-term extension study.

The company said it sought the assistance of Wedbush PacGrow in the process of exploring alternatives, which may include an acquisition, merger, reverse merger, business combination, liquidation, or other transaction.

There is no timetable for completion of the review process and there is no assurance that the process will lead to a deal, the company said.

Shares of Aerovate Therapeutics ( AVTE ) were up 3.1% in premarket activity.

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