Arca Biopharma forms committee to plot company’s course forward

WESTMINSTER — After nearly doubling its year-over-year losses in 2021, Arca Biopharma Inc.’s (Nasdaq: ABIO) board of directors has established a special committee and hired a consultant tasked with weighing the company’s strategic options for righting the ship.

The first hint that Arca was exploring a shakeup came in the company’s most recent quarterly report that said the newly formed special committee’s purview could include the exploration of “transactions involving the merger or sale of all or part of our assets, and other alternatives with the goal of maximizing stockholder value.”

On Wednesday, Arca went public with news that it has…