Cytodyn Inc (CYDY)

[LOL83001]

In the meantime while y'all are bickering:

Lantheus Holdings Inc. (LNTH) Wednesday said it agreed to buy Progenics Pharmaceuticals Inc. (PGNX) in a stock swap worth about $509 million.

Lantheus, a North Billerica, Mass., maker of diagnostic imaging agents and products, said it will issue 0.2502 shares for each share of Progenics.

Based on Tuesday's closing prices, the deal values Progenics at about $6.01 a share, a roughly 21.4% premium.

Shareholders of Progenics, a New York developer of medicines and other products for targeting and treating cancer, will own about 35% of the combined company, Lantheus said.

Lantheus said the deal creates a diversified diagnostic and therapeutics company that had combined revenue of $370.1 million for the 12 months ended June 30.

Lantheus said it expects to complete the acquisition, which is intended to be tax-free to Progenics' shareholders, in the first quarter of 2020.

Write to Colin Kellaher at [e-mail]