- Cash shell Motif Bio posted a first-half loss and said it had closely reviewed more than 30 reverse takeover opportunities.

Net losses for the six months through June amounted to $0.99 million, compared to a profit of $4.81 million.

Motif Bio said discussions had progressed to the term sheet stage with several companies.

'The search is continuing for an appropriate reverse takeover candidate with the goal of completing a transaction before 28 January 2021, when the company's shares would be de-listed absent an reverse takeover candidate or other qualifying transaction,' the company said.

Story provided by