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| Name | Symbol | Market | Type |
|---|---|---|---|
| AstraZeneca PLC | NASDAQ:AZN | NASDAQ | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.09 | 1.44% | 76.97 | 76.50 | 77.60 | 76.80 | 75.96 | 76.34 | 4,911,684 | 01:00:00 |
From May 2022 to May 2024
By Colin Kellaher
Shares of CinCor Pharma Inc. more than doubled in premarket trading Monday after the clinical-stage biopharmaceutical company agreed to be acquired by Anglo-Swedish pharmaceutical giant AstraZeneca PLC for up to $1.8 billion.
AstraZeneca said it would pay an initial $26 a share in cash for CinCor, roughly 121% above Friday's closing price of $11.78 for the Waltham, Mass., company.
CinCor shareholders also will receive non-tradable contingent value rights worth $10 a share, payable upon a specified regulatory submission of a baxdrostat product, bringing the total potential value of the deal to $36 a share.
The transaction is slated to close in the first quarter.
CinCor shares were recently changing hands at $28.01, up 138%, in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 09, 2023 07:28 ET (12:28 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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