Talis Biomedical (NASDAQ:TLIS) stock is falling on Wednesday after the company provided investors with an update on its restructuring plans.
Talis Biomedical has brought on two new board members, Patricia Ferrari and John Young, Jr. These two have also elected to serve on a special committee focused on the restructuring of the company.
Talis Biomedical notes that this special committee will focus on a few troublesome matters for the company. These include ongoing securities class action litigation, determining whether the company should file for Chapter 11 bankruptcy and settling any claims made against current or former company leaders in a potential bankruptcy filing.
Talis Biomedical notes that it specifically recruited Ferrari and Young as board members due to their deep experience in bankruptcy and liquidation proceedings. At the same time that they joined the board, Heinrich Dreismann voluntarily resigned.
What This Means for TLIS Stock
Considering the focus on bankruptcy talk today, it makes sense that investors are spooked. A bankruptcy and liquidation would spell the end of the company and TLIS stock.
With this news comes some 18,000 shares of TLIS stock changing hands. This may not seem like much but it’s more than double the company’s daily average trading volume.
TLIS stock is down 51.5% this morning.
Investors will want to keep reading for even more of the most recent stock market stories on Wednesday!
We have all of the hottest stock market available today! That includes what’s happening with shares of Scorpius (NYSEMKT:SCPX) stock, G1 Therapeutics (NASDAQ:GTHX) stock and Zhongchao (NASDAQ:ZCMD) stock today. All of this info is ready at the links below!
More Stock Market News for Wednesday
- Why Is Scorpius (SCPX) Stock Down 79% Today?
- Why Is G1 Therapeutics (GTHX) Stock Up 66% Today?
- Why Is Zhongchao (ZCMD) Stock Up 52% Today?
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
