10:42 AM EDT, 06/24/2024 (MT Newswires) -- eFFECTOR Therapeutics ( EFTR ) said Monday it will shut down its operations and seek potential strategic alternatives for its development programs.

The company said it has terminated its employees and will file a delisting request to the Nasdaq.

Meanwhile, the company's board has appointed Craig Jalbert as chief executive, president, and sole board member, it said.

eFFECTOR shares plummeted more than 75% in recent trading.

Price: 0.29, Change: -0.88, Percent Change: -75.21