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| SYI > SEC Filings for SYI > Form 8-K on 28-Jan-2009 | All Recent SEC Filings |
28-Jan-2009
Other Events, Financial Statements and Exhibits
On January 28, 2009, Synvista Therapeutics, Inc. (the "Company") announced that, following a review of its clinical development portfolio and its current financial status, the Board of Directors and management have determined that it is in the best interest of the Company to focus its resources on maximizing the value of its diagnostic assets and to terminate all ongoing clinical trials of its product candidates alagebrium and SYI-2074 as promptly as possible. The Company is continuing to explore strategic alternatives in order to monetize its technology assets, which may take the form of sales or licensing transactions with respect to those assets. In light of the Company's cash position and current negative economic and capital markets conditions, if the Company is unable to enter into such transactions in a timely manner, the Company's ability to continue operations beyond the second quarter of 2009 is in doubt.
A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
(d) Exhibits:
99.1 Press Release dated January 28, 2009.
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