Rare Disease Player Cyclo Therapeutics To Merge With Applied Molecular Transport
Portfolio Pulse from Vandana Singh
Applied Molecular Transport Inc (AMTI) has agreed to merge with Cyclo Therapeutics Inc (CYTH) in an all-stock transaction. The combined company will operate under Cyclo Therapeutics and continue trading on The Nasdaq Capital Market under the CYTH ticker. The merger is expected to close in Q4 2023. AMT stockholders will receive approximately 0.174 shares of Cyclo Therapeutics for each of their shares in AMT. After the merger, the existing Cyclo Therapeutics management team will lead the combined company.
September 21, 2023 | 1:46 pm
News sentiment analysis
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NEGATIVE IMPACT
CYTH is merging with AMTI in an all-stock deal. The combined company will operate under Cyclo Therapeutics and continue trading under the CYTH ticker. The stock is down 2.50% on the news.
The merger news is directly related to CYTH and is likely to have a significant impact on its stock price. The decrease in stock price suggests that the market may have concerns about the merger.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
AMTI is merging with CYTH in an all-stock deal. AMT stockholders will receive 0.174 shares of CYTH for each AMT share. The stock is up 10.10% on the news.
The merger news is directly related to AMTI and is likely to have a significant impact on its stock price. The increase in stock price suggests that the market views the merger positively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100