Cyclerion Concludes Unsolicited Proposal Is Not in The Best Interest of The Company
CAMBRIDGE, Mass., Nov. 22, 2022 (GLOBE NEWSWIRE) -- Cyclerion Therapeutics, Inc. (Nasdaq: CYCN) today announced that the Board of Directors of the Company acting solely by all of its independent and disinterested members (the “Independent Board”) 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.
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