Werewolf more than doubles on Ambros Therapeutics merger
BUZZ-Werewolf more than doubles on Ambros Therapeutics merger ** Shares of Werewolf Therapeutics HOWL.O rise 141% to $1.04 premarket
** Werewolf will merge with privately held Ambros Therapeutics in an all-stock deal
** Companies secure $150 million in new funding, which is expected to support operations and clinical trials into early 2029
** Merged company will focus on developing a drug called neridronate to treat CRPS-1, a highly painful disease that currently has no FDA-approved treatments
** Drug currently in a late-stage trial, with key results expected in 2028
** After the merger closes, expected in Q1 2027, combined company to operate as Ambros Therapeutics and trade on Nasdaq under ticker 'AMBX'
** FDA has granted neridronate breakthrough therapy, fast track and orphan drug designations
** As of last close, HOWL down ~32% YTD
(Reporting by Kamal Choudhury in Bengaluru)