Lexington, Massachusetts-based Kaleido Biosciences, a clinical-stage biotech company with a differentiated, small molecule approach to treating inflammatory conditions and diseases, has announced the cessation of operations and termination of all employees.
According to the company's filing with the Securities and Exchange Commission, "On April 8, 2022, the Board of Directors, voted to immediately wind down and cease all of the Company’s ongoing operations. In connection with the cessation of activities, the employment of all of the Company’s remaining employees was terminated effective immediately.
As previously announced, the Company had initiated a strategic process, in an attempt to maximize shareholder value and engaged professional advisors, including an investment banker to act as a strategic advisors in the process.
Unfortunately, the strategic process did not result in the identification of any viable transactions, and given its limited remaining resources, the Company cannot continue operations and believes that the best alternative is an orderly wind-down process.
The Company is evaluating additional details regarding the wind-down, and will provide further information when available."
Prior to shut down, the company Kaleido voluntarily delisted itself from Nasdaq.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?