LadRx Corporation (OTCPK:LADX) announced that it has initiated a process to explore a range of strategic and financing alternatives, and provided updates. LadRx has initiated a process to explore a range of strategic and financing alternatives focused on maximizing stockholder value. Potential alternatives that may be explored or evaluated include a strategic sale, a merger or reverse merger, implementing a reverse stock split for the purposes of up-listing to NASDAQ, seeking additional financing or some combination of the aforementioned scenarios.

Stephen Snowdy, PhD, the Company's Chief Executive Officer stated: “We believe that LadRx has great potential if Arimoclomol and Aldoxorubicin successfully navigate clinical trials and regulatory approvals, and we have additional next-generation oncology drugs in the pipeline. We do not feel that our current market capitalization reflects the value of our partnerships and assets, so we are embarking on efforts to maximize value for our shareholders.” As part of the strategic review process, the Company has engaged Roth Capital Partners, LLC to act as strategic advisor to assist the Company in evaluating certain alternatives. There can be no assurance that this strategic review process will result in the Company pursuing any transaction or that any transaction, if pursued, will be completed.

The Company has not established a schedule for completion of this strategic review process, nor has it made any definitive decisions related to strategic alternative transactions. If the Company is unable to complete a transaction, it may be required to seek alternatives for restricting and resolving its liabilities. The Company does not expect to disclose or provide an update concerning developments related to this process until the Company enters definitive agreements or arrangements with respect to a transaction or otherwise determines that additional disclosure is necessary or appropriate.