Talaris Therapeutics up on Tourmaline Bio deal, reverse stock split approval

Tourmaline Bio

18/10/2023 11:27

** Shares of cell therapy company Talaris Therapeutics
 TALS.O  up 8.2% at $3.1 premarket
    ** TALS on Tuesday after market close said its stockholders
approved merger with biotech firm Tourmaline Bio; also announced
a 1-for-10 reverse stock split of common stock
    ** TALS in June reported to merge with Tourmaline in an
all-stock deal, creating a combined late-stage clinical biotech
company listed on Nasdaq 
    ** As per the terms, a wholly owned subsidiary of TALS will
merge with Tourmaline
    ** The deal is expected to close on or around Oct. 19
    ** The combined co's common stock is expected to begin
trading on Nasdaq on a split-adjusted basis on Friday, under the
ticker symbol "TRML"     
    ** As of last close, TALS stock up 176.5% so far this year

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))