Biotech Values

[DewDiligence]

MRNA reverse-merges with (private) IthenaPharma:

http://finance.yahoo.com/news/marina-biotech-announces-merger-ithenapharma-120000046.html

Marina Biotech, Inc. (MRNA) today announced that it has signed a definitive merger agreement with IthenaPharma Inc., a company focused on the development and commercialization of combination products for pain, arthritis, hypertension, and cancer… The merger closed on November 15, 2016.

Under the terms of the merger agreement, Marina Biotech is issuing approximately 53,097,022 shares of its common stock, representing approximately 64% of the issued and outstanding shares of its common stock immediately following the completion of the merger, to the stockholders of IthenaPharma.

Inasmuch as IthenaPharma will own 64% of the post-merger equity and IthenaPharma’s pipeline will be the focus, this is effectively a reverse merger.

This merger is unusual insofar as the first announcement was issued after the deal had already closed.