Aeglea BioTherapeutics acquires Spyre; microcap up 360%
Jun. 22, 2023 8:50 AM ETAeglea BioTherapeutics, Inc. (AGLE)By: Jonathan Block, SA News Editor2 Comments
Zolak
- Aeglea BioTherapeutics (NASDAQ:AGLE) is acquiring privately held Spyre Therapeutics.
- With the acquisition, Aeglea (AGLE) gains SPY001 and SPY002, antibody candidates for inflammatory bowel disease projected to enter the clinic in 2024.
- Aegle (AGLE) shares are up ~360% in premarket trading.
- Deal terms calls for Spyre to be acquired as a stock-for-stock transaction.
- Aeglea (AGLE) also entered an agreement for a PIPE investment to raise $210M in which investors will be given 721,452 shares of Series A preferred stock (721,452,000 on an as-converted-to-common basis) at a price of $291.08 per share (or $0.29108 per share on an as-converted-to-common basis).
- The acquisition has been approved by the boards of both companies.
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Comments (2)
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charly333
Today, 10:18 AM
How many of those who traded 150 M shares so far will understand what they bought?
NDHT
Today, 9:02 AM
Yogi Berra is always right, "It ain't over till it's over".Just as its stock price went to a 52-week low (or all time low), boom! I'm down by 76% so far with the house money. If the current 400%+ rise holds, I'll be ready for the July 4th fireworks.