Acer Therapeutics surges on Zevra buyout deal
31/08/2023 15:54
** Acer Therapeutics ACER.O shares more than double to
$1.47
** Zevra Therapeutics ZVRA.O says it will acquire ACER
for $15 mln to bulk up its rare disease portfolio
** ACER eligible to receive additional $76 mln upon
achievement of certain milestones for Acer's urea cycle disorder
drug Olpruva and its connective tissue disorder drug Edsivo
** Zevra says it will provide Acer with a short-term loan
for up to $16.5 mln subject to certain conditions
** As of last close, shares down 75.7% YTD
(Reporting by Christy Santhosh)
((Christy.Santhosh@thomsonreuters.com))
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Acer Therapeutics surges on Zevra buyout deal
Brief: Zevra Therapeutics To Acquire Acer Therapeutics, Expanding Its Rare Disease Portfolio And Adding Commercial Product
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