Acelyrin jumps on Concentra Biosciences' buyout offer amid pending merger with Alumis

Alumis

21/02/2025 13:09

(Updates)
    ** Shares of drug developer Acelyrin  SLRN.O  rise 17.5% to
$2.55 premarket
    ** SLRN confirms that private affiliate of investor Tang
Capital Partners, Concentra Biosciences, has proposed to acquire
it for $3 per share in cash, a 38.2% premium to its last closing
price 
    ** The offer implies an equity value of about $300 million,
according to Reuters calculations, plus a "contingent value
right" 
    ** The investor had a 5.3% stake in SLRN - filing
    ** Earlier this month, SLRN announced an agreement to merge
with Alumis  ALMS.O  in an all-stock transaction
    ** Alumis said in an emailed statement it remains on track
to close the transaction in Q2 2025
    ** SLRN shares have fallen nearly 38% since it reported
mid-stage data from its thyroid eye disease drug in early
January

 (Reporting by Siddhi Mahatole)
 ((Siddhiprabhanjan.mahatole@thomsonreuters.com))