Acelyrin Stock Jumps on Concentra Acquisition Interest

Dow Jones
21 Feb
 

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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