Quince Therapeutics shares are trading lower after the company announced that it will acquire EryDel SpA and its Phase 3 Asset Targeting Ataxia-Telangiectasia in a stock-for-stock upfront exchange and stockholders may receive up to $485 million in a potential earnout.
Portfolio Pulse from Benzinga Newsdesk
Quince Therapeutics announced its plans to acquire EryDel SpA and its Phase 3 Asset Targeting Ataxia-Telangiectasia in a stock-for-stock upfront exchange. Stockholders may receive up to $485 million in a potential earnout. This news has led to a decrease in Quince Therapeutics' share price.
July 24, 2023 | 6:40 pm
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Quince Therapeutics' shares are trading lower after the announcement of its acquisition of EryDel SpA. Stockholders may receive up to $485 million in a potential earnout.
The acquisition announcement has led to a decrease in Quince Therapeutics' share price. This is likely due to the uncertainty surrounding the acquisition and its potential impact on the company's financials. The potential earnout of up to $485 million for stockholders also indicates a significant financial commitment from Quince Therapeutics.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100