Cyclacel Pharmaceuticals Exploring Alternatives, Cuts Costs to Preserve Cash

Dow Jones

Dec 06, 2024

By Paul Ziobro

Cyclacel Pharmaceuticals is looking at various strategic alternatives and cutting costs as it seeks to preserve cash.

The alternatives include a potential transaction with investor David Lazar of Activist Investing LLC, which would be subject to the consent of an existing securityholder, the company said Thursday.

The company's board has directed management to reduce operating costs while it explores any alternatives.

Based in Berkley Heights, N.J., Cyclacel is a biopharmaceutical company developing cancer medicines.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

December 05, 2024 16:50 ET (21:50 GMT)

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