Aerovate Therapeutics to Explore Strategic Alternatives

Core Viewpoint - Aerovate Therapeutics, Inc. is halting enrollment and shutting down the Phase 3 portion of the Inhaled iMatinib Pulmonary Arterial Hypertension Clinical Trial (IMPAHCT) and will conduct a comprehensive review of strategic alternatives to maximize shareholder value [1][2] Group 1 - The company has engaged Wedbush PacGrow as its exclusive strategic financial advisor to assist in exploring various strategic alternatives, which may include acquisition, merger, reverse merger, business combination, liquidation, or other transactions [2] - There is no assurance that the review process will lead to a transaction or that any pursued transaction will be completed on attractive terms [2] - Aerovate has not set a timetable for the completion of this review process and will not comment further until a definitive course of action is approved by the Board of Directors or the review process is concluded [2]