Harmony Biosciences Announces Extension Of Tender Offer To Acquire Zynerba Pharmaceuticals, Inc.
Portfolio Pulse from Benzinga Newsdesk
Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has extended the expiration of its tender offer to acquire all outstanding shares of Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) to October 10, 2023. The tender offer was previously set to expire on September 26, 2023. As of September 26, 2023, approximately 32.1% of Zynerba's outstanding common stock has been tendered.
September 27, 2023 | 12:04 pm
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NEUTRAL IMPACT
Harmony Biosciences has extended its tender offer to acquire Zynerba Pharmaceuticals, indicating a continued interest in the acquisition.
The extension of the tender offer indicates Harmony's continued interest in acquiring Zynerba. However, the impact on Harmony's stock price is uncertain as it depends on the market's perception of the potential benefits and risks of the acquisition.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
The extension of Harmony's tender offer may indicate a potential increase in the acquisition price for Zynerba Pharmaceuticals.
The extension of the tender offer may indicate that Harmony is willing to pay a higher price to acquire Zynerba. This could potentially lead to an increase in Zynerba's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100