LogicBio Therapeutics surges on buyout deal from AstraZeneca

ContextLogic Holdings

03/10/2022 12:31

** LogicBio Therapeutics Inc's shares  LOGC.O  surge 560% to
$1.8 - biggest pct gainer across U.S. stock exchanges premarket 
    ** Alexion, a subsidiary of AstraZeneca  AZN.L , will
acquire LOGC for a deal value of $68 million
    ** Under the agreement, Alexion will buy all the shares of
LOGC for $2.07 per share, which is a premium of more than 600%
to its last close
    ** Through the acquisition, Alexion would further its growth
in genomic medicines
   ** LOGC is a drug developer which has developed technology
platforms for the delivery and insertion of genes to address
genetic diseases
    ** Up to Friday's close, stock lost ~88% YTD 
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))