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DewDiligence

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DewDiligence

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Re: DewDiligence post# 237445

Tuesday, 10/03/2023 10:55:02 AM

Tuesday, October 03, 2023 10:55:02 AM

Post# of 257403
LLY acquires PNT for $12.50/sh cash—an 87% premium to yesterday’s close:

https://www.prnewswire.com/news-releases/lilly-to-acquire-point-biopharma-to-expand-oncology-capabilities-into-next-generation-radioligand-therapies-301945243.html

The nominal deal value is $1.4B; however, PNT has ~$800M in net cash and is due to receive at least $250M in milestone payments from LNTH, so LLY is not paying much for PNT’s radioligand pipeline.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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