BRIEF-LianBio Announces Completion Of Strategic Review

Reuters02-13

Feb 13 (Reuters) - LianBio :

* LIANBIO ANNOUNCES COMPLETION OF STRATEGIC REVIEW

* LIANBIO: EXPECTS TO REDUCE ITS WORKFORCE BY OVER 50 FULL-TIME EMPLOYEES, OR APPROXIMATELY 50% OF COMPANY'S CURRENT EMPLOYEE BASE, IN Q1 OF 2024

* LIANBIO: WILL BEGIN TO WIND DOWN OPERATIONS IMMEDIATELY AND INTENDS TO PURSUE SALE OF ITS REMAINING PIPELINE ASSETS

* LIANBIO: TO MAINTAIN CORE GROUP OF EMPLOYEES NECESSARY TO IMPLEMENT ORDERLY WIND DOWN OF CO

* LIANBIO: TO DISTRIBUTE ANY PROFITS FROM SALES TO THEN-CURRENT SHAREHOLDERS IN SUBSEQUENT DISTRIBUTION BEFORE FINAL DISSOLUTION OF CO

* LIANBIO: ADDITIONAL WORKFORCE REDUCTIONS WILL OCCUR OVER COURSE OF 2024

* LIANBIO: DECLARED SPECIAL CASH DIVIDEND OF $4.80 PER ORDINARY SHARE, INCLUDING ORDINARY SHARES REPRESENTED BY ADSS

* LIANBIO: PROVIDED NOTICE TO NASDAQ THAT IT INTENDS TO FILE FORM 25 WITH SEC ON OR ABOUT MARCH 8 TO EFFECT VOLUNTARY DELISTING OF CO'S ADSS FROM NASDAQ

* LIANBIO: CURRENTLY EXPECTS THAT LAST DAY OF TRADING ON NASDAQ WILL BE ON OR ABOUT MARCH 18

* LIANBIO: SEES FULL WIND DOWN OF OPERATIONS, TERMINATION OF EMPLOYEES TO BE SUBSTANTIALLY COMPLETE BY END OF 2024

* LIANBIO: COMPLETE DISSOLUTION EXPECTED TO OCCUR DURING FIRST HALF OF 2027

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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