(Zymeworks) Shares of Zymeworks Inc. rose more than 52% on Friday after receiving a takeover offer of $10.50 per share.
The cash offer values the developer of cancer antibody therapies at $773 million.
The deal carries a 116% premium to Zymeworks share closing of $4.86 on Wednesday.
The confirmed deal happens months after Zymeworks tried unsuccessfully to solicit potential buyers last year.
Zymeworks carries a debt of around $65 million in its balance sheet. It has missed earnings estimates repeatedly, with the shares down more than 84% in twelve months.
ZYME: NYSE is up +52.01%.
