Alcobra Initiates Review of Strategic Alternatives

Alcobra, an Israel-based biopharmaceutical company, said Friday its board of directors is conducting a process to explore and review a range of strategic alternatives focused on maximizing stockholder value from its development assets and cash resources. In conjunction with the exploration of strategic alternatives, the company also intends to streamline its operations in order to preserve its capital and cash resources.

Alcobra’s board has established a Special Committee to explore and evaluate strategic alternatives. Potential strategic alternatives that may be explored or evaluated as part of this process include the potential for an acquisition, merger, business combination or other strategic transaction involving the company. There can be no assurance, however, that this process will result in any such transaction. The company also said it is continuing to assess the best path forward for its Abuse-Deterrent Amphetamine Immediate-Release and Metadoxine Extended Release clinical programs.