Replies to post #219969 on Biotech Values

[kjgaro]

Does anyone know how these restructurings work? Are the employees notified by the PR or is there some internal discussion amongst the employees beforehand? Seems like it would be chaos if the employees found out from a PR, but would be like ripping off a Band-Aid instead of people wondering whether they are going to be terminated over the next few months.

[DewDiligence]

AQXP reverse-merges into—(private)—Neoleukin Therapeutics:

https://finance.yahoo.com/news/aquinox-pharmaceuticals-neoleukin-therapeutics-announce-110000558.html

Aquinox Pharmaceuticals, Inc. and Neoleukin Therapeutics, Inc., a privately held biopharmaceutical company utilizing sophisticated computational methods to design de novo protein therapeutics, today announced that the two companies entered into a definitive merger agreement…which is expected to close on or about August 8, 2019… In connection with the merger, Aquinox will be renamed as Neoleukin Therapeutics, Inc., and is expected to trade on the Nasdaq Global Market under the new ticker symbol “NLTX”, concurrent with closing.

…Following completion of the merger and on an as-converted basis, the former Aquinox stockholders will own approximately 61.42% of the combined company’s capital stock and the former Neoleukin stockholders will own 38.58% of the combined company’s capital stock.

…The combined company will focus on the development and commercialization of computationally-designed protein therapeutics to address significant unmet medical needs in immuno-oncology, inflammation, and autoimmunity. Neoleukin’s lead product candidate, NL-201, is a de novo protein designed to mimic the therapeutic activity of the cytokines interleukin-2 and interleukin-15 for the treatment of various types of cancer by activating both T-cells and NK-cells to fight cancer, while limiting toxicity with minimal loss of activity.