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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Decibel Therapeutics Inc | NASDAQ:DBTX | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.91 | 4.91 | 5.19 | 0 | 01:00:00 |
From May 2023 to May 2024
By Dean Seal
Regeneron Pharmaceuticals agreed to acquire Decibel Therapeutics for $4 a share, marking a 43% premium from yesterday's closing price.
The Tarrytown, N.Y.-based company said the deal gives Decibel a total equity value of about $109 million based on the amount payable at closing, though that valuation goes up to $213 million if certain clinical development and regulatory milestones are achieved.
The transaction includes an additional non-tradeable contingent value right to receive up to $3.50 a share in cash for hitting those milestones on Decibel's lead investigational candidate, DB-OTO, which is designed to provide hearing to people with otoferlin-related hearing loss and is currently in its first clinical trial.
The deal is expected to close in the third quarter.
Decibel shares were halted at $2.79 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
August 09, 2023 07:59 ET (11:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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