Neoleukin falls after deal to merge with genetic medicine developer

Neurogene

18/07/2023 14:47

** Shares of drug developer Neoleukin Therapeutics  NLTX.O 
fall 12.4% to $0.81 
    ** Privately held genetic medicines company Neurogene Inc
and NLTX say they have entered into a definitive merger
agreement to combine the companies in an all-stock transaction
    ** Upon completion of the merger, the combined company is
expected to operate under the name Neurogene Inc and trade on
the Nasdaq under the ticker symbol "NGNE" -NLTX
    ** Combined company will focus on development of Neurogene's
experimental gene therapy for a rare developmental disorder,
Rett syndrome - NLTX 
    ** The merger is expected to close in Q4 2023
    ** Including session moves, NLTX shares rose ~68% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))