(Checkmate Pharma) Shares of Checkmate Pharmaceuticals soared more than 332% on Tuesday after agreeing to a $250 million cash deal by Regeneron.
The deal values Checkmate stock at $10.50 per share of the company’s common stock.
Regeneron CEO and President Leonard S. Schleifer said that the deal enhances the company’s research in immune-oncology for increased clinical and patient benefits.
Checkmate CEO and President Alan Bash says Regeneron’s resources and expertise will help in the realization of its immunotherapy treatment advances.
The transaction is expected to close in mid-2022, with Regeneron acquiring all the Checkmate shares in a second-step merger.
CMPI: NASDAQ is up 332.78%, REGN: NASDAQ is up +0.083%
