Fresh Tracks expects to distribute $5M to $7M to shareholders after dissolution
BOULDER — Fresh Tracks Therapeutics Inc. (Nasdaq: FRTX) shareholders are set to vote this month to dissolve the company, a move that the drug developer expects to result in $5 million to $7 million returned to those shareholders.
The company, which laid off nearly all its workers last month, spent the third quarter focused on cost-cutting, Fresh Tracks said Monday in its third-quarter earnings report.
Last year the drug developer rebranded from Brickell Biotech and sold off rights to its excessive-sweating drug to Botanix Pharmaceuticals Ltd. The company, which has seen its stock price tank in recent years, then began…
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