Acelyrin slides after reiterating merger with Alumis amid Concentra's buyout offer

Alumis

04/03/2025 14:44

Corrects company name to "Concentra" in bullet 3, corrects typographical error in bullet 5

** Shares of drug developer Acelyrin SLRN.O fall 12.7% to $2.30

** SLRN reiterates its planned merger with Alumis, says unsolicited buyout offer from Concentra Biosciences is not expected to result in superior proposal

** Concentra last month offered to buy Acelyrin for about $300 million, according to Reuters calculations

** SLRN early in February agreed to merge with Alumis in all-stock transaction

** Transaction is expected to close by Q2 2025

** SLRN stock has fallen 67.3% in past 12 months

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com;))