RapidEye G1 Therapeutics ( NASDAQ: GTHX ) climbed ~66% premarket Wednesday after Danish healthcare company Pharmacosmos agreed to acquire the U.S.-based cancer drug developer for a total equity value of roughly $405M.
According to a merger agreement between G1 Therapeutics ( GTHX ) and Pharmacosmos, a U.S. subsidiary of the latter will acquire all outstanding shares of GTHX common stock for $7.
15 per share in cash, implying a 68% premium to the stock’s closing share price on Tuesday. The companies said the boards of directors of both firms have approved the deal, which is expected to close late in Q3 2024. North Carolina-based G1 Therapeutics ( GTHX ) markets Cosela, a treatment approved in the U.
S. to decrease the incidence of chemotherapy-induced myelosuppression in patients with small-cell lung cancer. More on G1 Therapeutics G1 Therapeutics: Failure Of Breast Cancer Underscores Long-Term Uncertainty Russell 2000 rise: Top 5 best, worst performers during July's rally in small-cap stocks G1 Therapeutics drops as breast cancer therapy fails in late-stage trial Seeking Alpha’s Quant Rating on G1 Therapeutics Historical earnings data for G1 Therapeutics.
