CohBar surges on merger agreement with Morphogenesis

CohBar

23/05/2023 13:51

** Shares of therapy developer CohBar Inc  CWBR.O  more than
doubles to $3.65 premarket
    ** Stock among top pct gainers across all U.S. exchanges
trading before the bell
    ** Co enters into an all stock merger agreement with
privately held Morphogenesis Inc to advance a late-stage
oncology pipeline
    ** The combined co is expected to operate under the name
'TuHURA Biosciences Inc' and to trade on Nasdaq
    ** The transaction is expected to close in Q3 2023
    ** The proceeds from a $15 million private placement will be
used to fund the advancement of the combined co's
immunotherapy-focused development pipeline, with an anticipated
cash runway through 2024 - CWBR
    ** Up to last close, stock down 9% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))