NightHawk Biosciences (NYSE American: NHWK) (“NightHawk” or the “Company”) announces its strategic shift into a pure-play biomanufacturing Contract Development & Manufacturing Organization (CDMO), as well as the divestiture of certain non-core assets, in order to focus on the growing sales within its Scorpius BioManufacturing subsidiary (“Scorpius”). To facilitate this strategic shift, the Company has divested its Elusys subsidiary and related assets, and has eliminated most of its R&D and associated expenses to focus its resources on growing and expanding Scorpius. The assets will be acquired by a private company established by Jeff Wolf, CEO of NightHawk, which will assume Elusys’ contracted financial commitments, currently estimated at over $40 million.
Read the full article: NightHawk Biosciences Announces Strategic Shift into a Pure-Play Large Molecule Biomanufacturing CDMO to Capitalize on Rapid Growth in Sales Pipeline along with Divestiture of Non-Core Assets //
Source: https://www.globenewswire.com/news-release/2023/12/12/2794741/32418/en/NightHawk-Biosciences-Announces-Strategic-Shift-into-a-Pure-Play-Large-Molecule-Biomanufacturing-CDMO-to-Capitalize-on-Rapid-Growth-in-Sales-Pipeline-along-with-Divestiture-of-Non-.html