Biotech Values

[DewDiligence]

LLY acquires VERV for $10.50/sh +CVR—a 70% premium to yesterday’c close (excluding the CVR):

https://www.prnewswire.com/news-releases/lilly-to-acquire-verve-therapeutics-to-advance-one-time-treatments-for-people-with-high-cardiovascular-risk-302483684.html

CVR holders would become entitled to receive the contingent payment [$3.00/sh] upon the first patient being dosed with VERVE-102 for ASCVD in a U.S. Phase 3 clinical trial on or prior to the tenth anniversary of closing…

The nominal deal value, excluding the CVR, is $1.0B.