Renovaro (RENB) said Friday that it received an email from Predictive Oncology (POAI) on April 3 terminating the companies' merger transaction.
Renovaro said that Predictive Oncology remains bound by the original agreement and must sign an exclusive license agreement as outlined in the binding documents.
Failure to do so will result in "legal remedies to recover all its damages and/or seek additional remedies to fully redress the breaches," Renovaro said.
Renovaro shares were down by nearly 13% in recent trading, while Predictive Oncology was down 7%.
Predictive Oncology did not immediately respond to a request for comment from MT Newswires.
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