The latest announcement is out from Entero Therapeutics (ENTO).
Entero Therapeutics, Inc. is navigating financial turmoil after its subsidiary ImmunogenX, LLC received a Notice of Default, demanding immediate payment of all obligations which total approximately $6.99 million. Additionally, the company is facing non-compliance with Nasdaq’s audit committee requirements following the resignation of two board members. In response to these challenges, Entero has cut costs by terminating non-essential employees, vacating its office, and pausing non-essential research, while exploring various strategic alternatives to maximize stakeholder value.
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