Cleveland BioLabs rises on merger agreement with Cytocom Inc

Statera Biopharma

20/10/2020 11:08

** Biopharma co's shares  CBLI.O  up 24.9% at $2.71
premarket
    ** Cytocom Inc, a biopharma co in the area of
immune-modulation, to acquire CBLI in all-stock deal, the firms
said on Monday  urn:newsml:reuters.com:*:nACSgSsmda
    ** Cytocom shareholders will have a majority position in the
newly combined entity
    ** New co will operate as "Cytocom Inc" and will continue to
be listed on the Nasdaq
    ** "This merger will enhance our ability to become a
recognized leader in immune-modulating treatments" - Michael
Handley, CEO of Cytocom 
    ** Stock up 260.47% YTD

 (Reporting by Madhvi Pokhriyal in Bengaluru)
 ((Madhvi.pokhriyal@thomsonreuters.com))