Biotech Values

[DewDiligence]

JNCE accepts_sweetened_buyout_offer_from_Concentra_Biosciences—(Tang Capital)—$1.85/sh cash +CVR:

https://www.globenewswire.com/news-release/2023/03/27/2634797/0/en/Jounce-Therapeutics-Enters-Into-Agreement-to-Be-Acquired-by-Concentra-Biosciences-for-1-85-in-Cash-per-Share-Plus-Contingent-Value-Rights.html

The accepted offer is $0.05/sh better than Tang’s Capital’s offer on 3/14/23 (#msg-171445879) and is a 68% premium (exluding any value for the CVR) to JNCE’s “unaffected” share price on 2/23/23 prior to announcement of the all-stock reverse-merger with REDX.L, which is now defunct (#msg-171282176).

In an odd twist, JNCE is implementing an 84% layoff in conjunction with the merger.