Neoleukin Therapeutics To Merge With Neurogene: Creates Biotech Firm Focused On Genetic Medicines For Neurological Diseases
Portfolio Pulse from Vandana Singh
Neoleukin Therapeutics Inc (NASDAQ:NLTX) is set to merge with privately-held Neurogene Inc in an all-stock transaction. The combined company will focus on advancing Neurogene's pipeline of genetic medicines and will operate under the name Neurogene Inc, trading under the ticker symbol 'NGNE'. The merger is expected to close in Q4 2023, with pre-merger Neoleukin stockholders owning approximately 16% of the combined company. NLTX shares are down 6.19% in premarket trading.
July 18, 2023 | 1:26 pm
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Neoleukin Therapeutics is merging with Neurogene Inc, with the combined company trading under 'NGNE'. NLTX shares are down 6.19% in premarket trading.
The merger announcement has led to a decrease in NLTX shares in premarket trading. As the combined company will trade under a new ticker symbol, 'NGNE', this could potentially impact the short-term price of NLTX shares negatively.
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