Why eFFECTOR Therapeutics (EFTR) Shares Are Down Over 70%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2024
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Source: Benzinga
- EFTR Shares Plummet: EFFECTOR Therapeutics Inc (EFTR) shares dropped by 75% to $0.28 after announcing employee terminations and winding down operations.
- Delisting Plans: EFTR plans to voluntarily request a delisting of its securities on the Nasdaq following a special board meeting.
- New CEO Appointment: Craig R. Jalbert, experienced in managing distressed businesses, has been appointed as the new CEO, President, Treasurer, Secretary, and sole board member for overseeing the wind-down process.
- Stock Performance: EFTR's 52-week high was $22.50, and the low was $0.27, according to data from Benzinga Pro.
- Market Impact: The company's decision to wind down operations and seek delisting has significantly affected its stock value and market position.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
