Reunion Neuroscience On The Brink Of Going Private With Final Court Approval
Portfolio Pulse from Lara Goldstein
Reunion Neuroscience (NASDAQ:REUN) is set to go private following a final court approval. The company is closing on its take-private transaction with MPM BioImpact affiliates, with shareholders approving the arrangement plan. The acquisition of Reunion in an all-cash transaction of $13.1 million is expected to close on or about July 21, 2023. Reunion was split from Field Trip Health in mid-2022 and has been developing a novel serotonergic psychedelic compound, RE104, as a potential treatment for postpartum depression.
July 17, 2023 | 9:04 pm
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Mindset Pharma Inc. is involved in a court battle with Reunion Neuroscience over claims on a Novel Chemical Entity reportedly identical to RE104.
The ongoing legal dispute between Mindset Pharma Inc. and Reunion Neuroscience could potentially have a negative impact on Mindset Pharma's stock price in the short term, especially if the court rules in favor of Reunion Neuroscience.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 75
NEGATIVE IMPACT
Reunion Neuroscience is going private in a $13.1M all-cash transaction with MPM BioImpact affiliates. The deal is expected to close on July 21, 2023.
The news of Reunion Neuroscience going private is directly related to the company's stock. As the company is going private, its shares will no longer be publicly traded, which will likely lead to a decrease in the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Field Trip Health & Wellness, which split from Reunion Neuroscience in mid-2022, is not directly affected by the latter's decision to go private.
Although Field Trip Health & Wellness was mentioned in the news as a company that split from Reunion Neuroscience, it is not directly involved in the latter's decision to go private. Therefore, the news is unlikely to have a significant impact on Field Trip Health & Wellness's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50