Optinose surges on Paratek Pharma's buyout deal for up to $330 million

OptiNose

20/03/2025 14:27

Updates

** Shares of drug developer Optinose OPTN.O rise 56.5% to an over four-month high of $9.60

** OPTN is set for biggest percentage gain on record

** OPTN says privately held Paratek Pharmaceuticals will acquire co and its nasal spray, Xhance, for up to $330 million

** Xhance is used for treating a type of long-term sinus and nasal passage inflammation called chronic rhinosinusitis

** Deal offers potential consideration of up to $14 per share, including upfront consideration of $9 per share, which represents 50% premium to stock's last close

** Up to last close, OPTN down 76.7% in past 12 months

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))