Health Care Company Harmony Biosciences Announces Acquisition of Zynerba Pharmaceuticals
Portfolio Pulse from Benzinga Insights
Harmony Biosciences (NASDAQ:HRMY) has announced the acquisition of Zynerba Pharmaceuticals (NASDAQ:ZYNE) for $200 million in cash, expected to be completed in Q4 of 2023. Harmony Biosciences is a commercial-stage pharmaceutical company focused on developing therapies for rare neurological diseases. Zynerba Pharmaceuticals is focused on developing synthetic cannabinoid therapeutics.
August 14, 2023 | 3:10 pm
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POSITIVE IMPACT
Harmony Biosciences is acquiring Zynerba Pharmaceuticals, expanding its portfolio of neurological therapies.
The acquisition of Zynerba Pharmaceuticals allows Harmony Biosciences to expand its portfolio of neurological therapies, potentially leading to increased revenues in the future. This could positively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Zynerba Pharmaceuticals is being acquired by Harmony Biosciences for $200 million in cash.
Zynerba Pharmaceuticals' shareholders could potentially benefit from the cash acquisition by Harmony Biosciences. The acquisition price could reflect a premium over the current stock price, which could lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100