Why Zynerba Pharmaceuticals Stock Is Skyrocketing Today?
Portfolio Pulse from Erica Kollmann
Harmony Biosciences (NASDAQ:HRMY) announced it will acquire Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) for $200 million. The purchase price is $1.1059 per share in cash, or $60 million in aggregate, plus one non-tradeable contingent value right (CVR) per share, representing the right to receive potential additional payments of up to $140 million. Zynerba's shares are up by more than 280% at $1.29.
August 14, 2023 | 2:21 pm
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POSITIVE IMPACT
Harmony Biosciences is acquiring Zynerba Pharmaceuticals, which could potentially expand its portfolio and market presence.
The acquisition of Zynerba Pharmaceuticals could potentially expand Harmony Biosciences' portfolio and market presence, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Zynerba Pharmaceuticals' shares are skyrocketing after the announcement of its acquisition by Harmony Biosciences.
The announcement of Zynerba Pharmaceuticals' acquisition by Harmony Biosciences has led to a significant increase in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100