Cerulean Pharma to Undergo Strategic Review

Cerulean Pharma shares were up 2% on Wednesday, coming off a trading halt, after the clinical-stage company developing nanoparticle-drug conjugates said it is conducting a review of strategic alternatives focused on maximizing stockholder value.

“The intention of the strategic review is to evaluate potential alternatives such as the sale of the company, a merger, a business combination, a strategic investment into the company, or a sale, license or disposition of assets of the company,” Cerulean said, adding it may not result in a transaction.

The company has engaged Aquilo Partners as its financial advisor to assist in the strategic review process.

By Travis Berry