Immune-focused biotech firm Histogen (NASDAQ:HSTO) said on Monday that it had decided to liquidate after failing to find any viable strategic alternatives.
Shares of HSTO fell 6.2% in extended trading. Its stock has cratered over 23% YTD.
The company said it will distribute any remaining cash to shareholders, following an orderly wind down of its operations.
Histogen added that it has discontinued all clinical development programs, and fired all but two employees, effective September 30.
According to the company, it has terminated all its officers except finance chief Susan Knudson, who will additionally serve as president, chief executive officer, and principal executive officer, effective October 1.
In early July, the company had paused it programs to commence a review of strategic alternatives, as it sought to raise capital.