On February 3, 2023 Coherus BioSciences, Inc. ("Coherus" or the "Company", Nasdaq: CHRS), reported that effective February 1, 2023, the compensation committee of the Company’s board of directors granted options to purchase an aggregate of 22,500 shares of the common stock of the Company to three newly hired employees with a per share exercise price of $8.65, the closing trading price on the grant date (Press release, Coherus Biosciences, FEB 3, 2023, View Source [SID1234626822]).

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The stock options were granted pursuant to the Coherus BioSciences, Inc. 2016 Employment Commencement Incentive Plan, which was approved by the Company’s board of directors in June 2016 under Rule 5635(c)(4) of the Nasdaq Global Select Market for equity grants to induce new employees to enter into employment with the Company.

On February 3, 2023 Avalo Therapeutics, Inc. (Nasdaq: AVTX) ("Avalo") reported that it has commenced a proposed underwritten public offering of shares of its common stock and warrants to purchase shares of its common stock (Press release, Avalo Therapeutics, FEB 3, 2023, View Source [SID1234626821]). All of the shares and warrants in the proposed offering are to be sold by Avalo. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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SVB Securities and RBC Capital Markets are acting as joint bookrunning managers for the offering.

The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-254000) that was declared effective by the Securities and Exchange Commission (the "SEC") on March 19, 2021. The offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website, located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering, when available, may also be obtained from SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by phone at (800) 808-7525, ext. 6105, or by email at [email protected]; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (877) 822- 4089 or by email at [email protected].

The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

On February 3, 2023 Vyant Bio, Inc. ("Vyant Bio" or "Company") (Nasdaq: VYNT) is an innovative biotechnology company reinventing drug discovery for complex neurodevelopmental and neurodegenerative disorders (Press release, Vyant Bio, FEB 3, 2023, View Source [SID1234626820]). The Company’s proprietary central nervous system ("CNS") drug discovery platform combines human-derived organoid models of brain disease, scaled biology, and machine learning. Vyant Bio, reported that on January 31, 2023 its Board of Directors determined it was appropriate to conduct a reduction in force as soon as practical so as to preserve cash to allow the Company, through its advisors including LifeSci Capital, to continue to pursue satisfactory strategic alternative transactions and/or execute an orderly wind down of the Company, if necessary.

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John A. Roberts, President and Chief Executive Officer and Robert T. Fremeau, Jr. Ph.D., Chief Scientific Officer agreed in principle with the Company to step down from their respective positions, effective as of February 3, 2023, to preserve cash for the execution of an orderly wind down process. Mr. Roberts will remain a member of the Board of Directors of the Company.

The Company’s Board of Directors has appointed Andrew D. C. LaFrence, currently the Company’s Chief Financial Officer, to assume the position of President and Chief Executive Officer to lead the Company through this period of transition.

"The Company’s Board and Management believe that it is prudent to allow time for LifeSci Capital to continue its mandate of exploring potential strategic transactions while providing for prudent cash management in the event strategic alternatives fail to materialize and an orderly wind down of the Company’s operations becomes necessary," said Andy LaFrence, Chief Financial Officer of Vyant Bio."

The Company’s decision to potentially pursue other strategic alternatives to unlock material value is based on its belief that its stock price does not reflect the fundamental value of the business. On January 4, 2023, the Company announced it had engaged LifeSci Capital to assist the Board in evaluating potential strategic options. To arrange a time to meet with the management team, please contact Hany Awadalla at LifeSci Capital at [email protected].

On February 3, 2023 As previously disclosed by Aceragen, Inc. (formerly known as Idera Pharmaceuticals, Inc.) ("Aceragen," the "Company," "we," "us," and "our"), reported in its Current Report on Form 8-K filed on September 30, 2022, the Company is party to that certain binding term sheet (the "Term Sheet") entered into with certain former stockholders of Arrevus, Inc. (the "Former Stockholders"), under which Aceragen and the Former Stockholders agreed to defer certain payments owed by Aceragen to the Former Stockholders (Filing, 8-K, Aceragen, FEB 3, 2023, View Source [SID1234626819]). Pursuant to the terms of the Term Sheet, on January 31, 2023, the Company issued 12% convertible unsecured promissory notes (the "Convertible Notes") to the Former Stockholders in an aggregate amount of approximately $5.896 million.

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The Convertible Notes bear annual interest at 12%. Under the terms of the Convertible Notes, at the holder’s election, any or all of the then outstanding principal and accrued interest may be converted into shares of Company’s common stock, par value $0.001 per share (the "Common Stock") using a conversion price determined by the VWAP (as defined in the Convertible Notes) on the applicable trading market for the fifteen consecutive trading days ending prior to the date the holder provides notice of their intent to convert. The terms of the Convertible Notes provide the Former Stockholders with customary registration rights covering the Common Stock issued following any conversion of the Convertible Notes.

The foregoing description of the Convertible Notes does not purport to be a complete and is qualified in its entirety by reference to the full text of the Convertible Note, filed herewith as Exhibit 4.1, which is incorporated by reference into this Item 1.01.

Item 3.02 Unregistered Sales of Equity Securities.

The information set forth in Item 1.01 above is incorporated by reference into this Item 3.02.

The Convertible Notes were issued pursuant to an exemption from registration pursuant to Section 4(a)(2) and/or Rule 506(b) of Regulation D of the Securities Act of 1933, as amended. The foregoing issuances did not involve a public offering and were made only to persons whom the Company believed were accredited investors.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On February 3, 2023, the Company announced that Bryant D. Lim will be leaving his role as Senior Vice President, Chief Business Officer and General Counsel of the Company, effective February 17, 2023, to pursue another opportunity.

On February 3, 2023 Vivoryon Therapeutics N.V. (Euronext Amsterdam: VVY; NL00150002Q7) (Vivoryon), a clinical stage company focused on the discovery and development of small molecule medicines to modulate the activity and stability of pathologically altered proteins, reported that Dr. Ulrich Dauer, CEO of Vivoryon Therapeutics, will present at the BIO CEO & Investor Conference, taking place February 6 -9, 2023 in New York City.

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Presentation Date: February 6, 2023

Presentation Time: 10:15 am EST

Venue: Marriott Marquis Times Square

The presentation, which is accessible to registered conference attendees, will highlight the Company’s differentiated approach in Alzheimer’s disease (AD) with a focus on varoglutamstat, Vivoryon’s oral small molecule QPCT/L inhibitor in Phase 2 development for AD.