Theseus Pharma rises as Concentra Biosciences agrees to take it private

Theseus Pharmaceuticals

22/12/2023 12:17

** Shares of Theseus Pharmaceuticals  THRX.O  rise 7% to
$3.96 premarket
    ** Drug developer enters into an agreement to be bought by
Concentra Biosciences in an all-cash deal worth at least $172.5
mln 
    ** Concentra will acquire THRX for $3.9/shr and will pay an
extra 0.15/shr upon closing of the deal 
    ** The offer represents a 5.4% premium over THRX's last
closing price of $3.7/shr    
    ** THRX expects deal to close in Feb 2024
    ** Up to Thursday's close, stock down 25.7% YTD
    

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))