Biotech Values

[DewDiligence]

OPTN acquired by_private_company, Paratek for $9/sh cash +CVR—a 50% premium to yesterday’s close (excluding the CVR):

https://finance.yahoo.com/news/paratek-pharmaceuticals-acquire-optinose-creating-012500039.html

Under the terms of the agreement, Paratek will acquire all of Optinose’s outstanding shares for $9 per share in cash, plus up to $5 per share in CVRs payable in the event that certain net revenue milestones are achieved by XHANCE. Pursuant to the CVRs, Paratek would pay $1 per share if XHANCE achieves $150M in net sales in any calendar year prior to December 31, 2028, and $4 per share if XHANCE achieves $225M in net sales in any calendar year prior to December 31, 2029.

The nominal deal value is $330M.