Biotech Values

[DewDiligence]

RPHM reverse-merges with—(private)—OnKure:

https://finance.yahoo.com/news/reneo-pharmaceuticals-onkure-announce-proposed-113500103.html

The combined company will focus on advancing OnKure’s pipeline candidates targeting oncogenic mutations in phosphoinositide 3-kinase alpha (PI3K-alpha), including its lead program OKI-219, which is currently in a Phase 1 clinical trial for the treatment of solid tumors. Upon completion of the transaction, the combined company is expected to operate under the name OnKure Therapeutics, Inc., and trade on the Nasdaq Global Market under the ticker symbol “OKUR”.

… Pre-merger Reneo stockholders are expected to own approximately 31% of the combined company, and pre-merger OnKure stockholders are expected to own approximately 69% of the combined company, upon the closing of the merger, exclusive of the PIPE financing.

RPHM has essentially been a shell company since its phase-3 failure and workforce reduction in Dec 2023 (#msg-173427205).