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DewDiligence

06/19/20 7:38 PM

#233198 RE: DewDiligence #233183

Today’s biotech-IPOs scorecard...

FMTX +95%
RPTX +54%
PROG -13%
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DewDiligence

09/01/22 11:40 AM

#243661 RE: DewDiligence #233183

NVO acquires FMTX for $20.00/sh cash—a 49% premium to yesterday’s close:

https://www.globenewswire.com/news-release/2022/09/01/2508522/0/en/Novo-Nordisk-to-acquire-Forma-Therapeutics-and-expand-presence-in-sickle-cell-disease-and-rare-blood-disorders.html

The nominal deal value is $1.1B. The buyout price is exactly the same as the IPO price in 2020 (#msg-156379536), a disappointing outcome for FMTX shareholders that is surprising in view of the widespread interest in SCD (as indicated by PFE's outbidding two other companies in the acquisition of GBT).