ALT5 Sigma Initiates $100M Stock Buyback Program, Shares Rise 9%

ALT5 Sigma's board has authorized a $100M stock buyback program, which represents up to 50M shares, or about 40% of all outstanding shares and 22% on a fully diluted basis. The program will allow the company to repurchase shares below its net asset value. This move comes after the company's shares jumped over 9% premarket.