Kaleido Biosciences Inc (NASDAQ:KLDO) has delivered formal notice to voluntarily delist its common stock from NASDAQ as the Company will stop all operations.
The Company expects to file a Form 25 with the Securities and Exchange Commission by April 18 to effect the voluntary delisting effective by April 28.
The Board of Directors voted to immediately wind down and cease all of the Company’s ongoing operations.
Related: Kaleido Halts Upcoming Phase 2 COPD Trial, Piper Sandler Cuts Price Target.
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, but it did not result in the identification of any viable transactions, given its limited remaining resources.
The Company cannot continue operations and believes that the best alternative is an orderly wind-down process.
Price Action: KLDO shares are down 74.9% at $0.37 during the market session on the last check Friday.

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