Shares of nano-cap company Anchiano Therapeutics Ltd. (ANCN) are currently soaring 130% after the preclinical biopharmaceutical company announced a merger deal with clinical-stage biotech company Chemomab Ltd.
ANCN is currently trading at $3.595, up $2.055 or 133.44%, on the Nasdaq.
Anchiano Therapeutics and Chemomab, a clinical-stage biotech company focused on the discovery and development of innovative therapeutics for fibrosis-related diseases with high unmet need, entered into a definitive merger agreement pursuant to which the shareholders of Chemomab would become the majority holders of the combined company.
The proposed merger will create a public company focused on advancing Chemomab's lead product, CM-101.
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