Why Vyant Bio Shares Are Soaring After Hours

Vyant Bio Inc VYNT shares are trading higher Wednesday after the company engaged LifeSci Capital as an advisor to explore strategic alternatives.

What To Know: Vyant Bio has engaged LifeSci Capital as its financial advisor to assist in exploring a range of strategic alternatives focused on enhancing shareholder value.

"The Company's Board and Management believes that the Company has made tangible progress in its drug discovery strategy focused on the identification of new, disease modifying therapeutics to treat neurodevelopmental and neurodegenerative diseases," said Jay Roberts, CEO of Vyant Bio. 

"However, the Board and Management also believe that it would be a prudent time to contemplate strategic alternatives while continuing to execute on the current business plan." 

Vyant Bio also announced that it would participate in BIO's One-on-One Partnering event. Vyant is a biotechnology company that aims to reinvent drug discovery for complex neurodevelopmental and neurodegenerative disorders.

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VYNT Price Action: Vyant Bio shares are up 94.9% at $1.50 at the time of publication, according to Benzinga Pro.

Photo: Konstantin Koloso from Pixabay.