Why Is Acer Therapeutics Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Zevra Therapeutics has agreed to acquire Acer Therapeutics for up to $91 million, with the transaction expected to close in Q4 2023. The deal includes approximately 2.96 million shares of Zevra common stock valued at $15 million and up to an additional $76 million in potential cash payments upon achievement of certain commercial and regulatory milestones for Acer's products. Zevra has also purchased Acer's secured debt from Nantahala Capital and agreed to provide Acer with a bridge loan facility for up to $16.5 million.
August 31, 2023 | 1:32 pm
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POSITIVE IMPACT
Acer Therapeutics is being acquired by Zevra Therapeutics, which has led to a significant increase in its stock price.
The acquisition announcement has led to a surge in Acer's stock price as investors anticipate the potential benefits of the deal.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Zevra Therapeutics is acquiring Acer Therapeutics, which has led to a slight increase in its stock price.
The acquisition announcement has led to a slight increase in Zevra's stock price as investors anticipate the potential benefits of the deal.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100