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Ritter Pharmaceuticals seeks to evaluate strategic alternatives

Ritter Pharmaceuticals Inc. said it has engaged Alliance Global Partners as a financial adviser to review strategic alternatives for the company.

The Los Angeles-based pharmaceutical company, which develops drugs to treat gastrointestinal diseases, may look at options including an acquisition, merger, reverse merger, sale of assets, licensing or other transactions as part of the review.

Ritter said in September that its experimental lactose intolerance treatment RP-G28 failed to significantly reduce symptoms of the disorder compared to placebo during a phase 3 trial.