• Kaleido Biosciences Inc (NASDAQ: KLDO) has delivered formal notice to voluntarily delist its common stock from NASDAQ as the Company will stop all operations.

• The Company expects to file a Form 25 with the Securities and Exchange Commission by April 18 to effect the voluntary delisting effective by April 28.

• The Board of Directors voted to immediately wind down and cease all of the Company’s ongoing operations.

• Related: Kaleido Halts Upcoming Phase 2 COPD Trial, Piper Sandler Cuts Price Target.

• In connection with the cessation of activities, the employment of all of the Company’s remaining employees was terminated effective immediately.

• As previously announced, the Company had initiated a strategic process, but it did not result in the identification of any viable transactions, given its limited remaining resources.

• The Company cannot continue operations and believes that the best alternative is an orderly wind-down process.

• Price Action: KLDO shares are down 74.9% at $0.37 during the market session on the last check Friday.

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