Sigilon Therapeutics Shares Are Shooting Higher Today - What's Going On
Portfolio Pulse from Vandana Singh
Eli Lilly And Co (NYSE:LLY) has agreed to acquire Sigilon Therapeutics Inc (NASDAQ:SGTX) for a purchase price of $14.92 per share in cash, totaling approximately $34.6 million. Sigilon is also entitled to one non-tradeable contingent value right per share to receive up to an additional $111.64 per share in cash, for a total potential consideration of up to $126.56 per share in cash. The transaction is expected to close in the third quarter of 2023. Sigilon's shares are up 488.80% at $23.14.
June 29, 2023 | 1:41 pm
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POSITIVE IMPACT
Eli Lilly is acquiring Sigilon Therapeutics, which could potentially strengthen its portfolio in the long term.
The acquisition of Sigilon Therapeutics by Eli Lilly could potentially strengthen Eli Lilly's portfolio, especially in the area of type 1 diabetes treatments. This could have a positive impact on Eli Lilly's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Sigilon Therapeutics' shares are skyrocketing after the announcement of its acquisition by Eli Lilly.
The announcement of the acquisition of Sigilon Therapeutics by Eli Lilly has led to a significant increase in Sigilon's stock price. This is likely due to the high purchase price and the potential for additional cash payments.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100