By Dean Seal
Shares of Acelyrin climbed after the company said it has received an unsolicited indication of interest from Concentra Biosciences for an acquisition at $3 a share.
The stock was up 14% at $2.48 in premarket trading. Shares had fallen 31% year to date when the market closed Thursday.
The Los Angeles-based late-stage biopharma company said Friday morning that Concentra's all-cash proposal includes a right to receive 80% of proceeds from any out-license or disposition of Acelyrin's development programs or intellectual property.
The offer comes after Acelyrin agreed earlier this month to merge with Alumis in an all-stock deal that is expected to close in the second quarter.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 21, 2025 09:16 ET (14:16 GMT)
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