Atea Pharma rises on buyout offer from Concentra

Atea Pharmaceuticals

22/05/2023 14:33

** Shares of drug developer Atea Pharmaceuticals Inc
 AVIR.O  up 26.2% at $4.69
    ** Concentra Biosciences, an affiliate of investment firm
Tang Capital Partners, proposes to buy all outstanding shares of
AVIR
    ** Tang Capital owns 3.6% of AVIR
    ** Concentra intends to engage in discussions with AVIR to
negotiate the offer - 13D SEC filing
    ** Financial terms of the offer not disclosed
    ** AVIR has not yet responded to the offer
    ** Stock down 23% YTD

 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))