Biotech Values

[DewDiligence]

NVS acquires RNA for $72/sh cash—a 46% premium to Friday’s close:

https://www.prnewswire.com/news-releases/avidity-biosciences-enters-into-agreement-to-be-acquired-by-novartis-ag-302594703.html

Avidity Biosciences (RNA)’s specialty is antibody-oligonucleotide conjugates.

In conjunction with the acquisition by NVS, RNA will spin off to its own shareholders a new (unnamed) company comprising RNA’s early-stage cardiology program. The nominal deal value (excluding the spinoff) is $12.0B.