Biotech Values

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CEMP merger with private co.
Cempra announces merger plans with privately-held antibiotic developer Melinta Therapeutics under which Melinta shareholders will own ~52% of the combined company. The deal should close in Q4.
• Melinta has one commercially available product, QIDP-tagged Baxdela (delafloxacin), approved by the FDA in June for the treatment of acute bacterial skin and skin structure infections ((ABSSSI)). A Phase 3 study in patients with community-acquired bacterial pneumonia (CABP) is in process.
• Other pipeline programs include radezolid, a second-generation oxazolidinone, macrolide and antibiotics to treat bacterial "super bugs."
• Shares are up 14% premarket on average volume.