Decibel Therapeutics surges on $109 million buyout deal

Decibel Therapeutics

09/08/2023 13:07

** Shares of drug developer Decibel Therapeutics Inc
 DBTX.O  rise 86.7% to $5.2 before the bell
    ** Regeneron Pharmaceuticals Inc  REGN.O  agrees to acquire
DBTX in cash deal worth $109 mln to strengthen its gene therapy
and hearing loss programs
    ** REGN will pay $4 per share, which is at 43.4% premium on
DBTX's last close on Tuesday
    ** Transaction is expected to close in Q3
    ** Up to Tuesday's close, stock up ~36% YTD 

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))