Satsuma Pharma soars on buyout deal from Japan's Shin Nippon
17/04/2023 12:31
** Shares of drug developer Satsuma Pharmaceuticals Inc
STSA.O more than double at $1.77 premarket
** Japan-based clinical trial company Shin Nippon Biomedical
Laboratories Ltd 2395.T to acquire Satsuma at $0.91/shr, a
premium of ~39% over STSA's last close
** STSA stockholders eligible for non-tradeable right of
payment of up to $5.77/shr in relation to migraine drug
milestones
** STSA stock down 27% YTD
(Reporting by Aditya Samal)
((Aditya.Samal@thomsonreuters.com;))
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Satsuma Pharma soars on buyout deal from Japan's Shin Nippon