Why Pardes Biosciences Shares Are Rising Monday
Portfolio Pulse from Adam Eckert
MediPacific has agreed to acquire Pardes Biosciences Inc (NASDAQ:PRDS) for $2.02 to $2.19 per share in cash, along with contingent value rights associated with any future monetization of its COVID-19 antiviral portfolio and related intellectual property. The acquisition is expected to close in the third quarter.
July 17, 2023 | 1:25 pm
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Pardes Biosciences is being acquired by MediPacific, which is expected to close in the third quarter. The deal includes future monetization rights of its COVID-19 antiviral portfolio.
The acquisition news is directly related to Pardes Biosciences and is likely to have a positive impact on its stock price in the short term. The inclusion of future monetization rights of its COVID-19 antiviral portfolio in the deal also adds potential future value.
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