F-star Therapeutics Shares Soar on Buyout Deal
By Colin Kellaher
Shares of F-star Therapeutics Inc. surged nearly 60% on Thursday
after the clinical-stage biopharmaceutical company agreed to be
acquired by a unit of Sino Biopharmaceutical Ltd. for about $161
Sino Biopharm's invoX unit is paying $7.12 a share in cash for
F-star, nearly 79% above Wednesday's closing price of $3.98 for the
The purchase price is below F-star's 52-week high of $9.38
reached last July but well above the all-time low of $2.07 the
stock hit in February.
The deal is slated to close in the second half of the year.
F-star shares were recently changing hands at $6.26, up
Write to Colin Kellaher at firstname.lastname@example.org
(END) Dow Jones Newswires
June 23, 2022 10:46 ET (14:46 GMT)
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