Halper Sadeh LLC, an investor rights law firm, is investigating the merger of Galera Therapeutics, Inc. (OTC: GRTX) and Obsidian Therapeutics, Inc. Upon closing of the proposed transaction, Galera shareholders are expected to own approximately 1.8% of the combined company.
Galera Therapeutics, Inc. (“Galera”) (OTC: GRTX), a clinical-stage biopharmaceutical company focused on advancing a pan-NOS inhibitor through clinical development for patients with the hardest-to-treat forms of advanced breast cancer, and Obsidian Therapeutics, Inc. (“Obsidian”), a privately-held clinical-stage biopharmaceutical company harnessing novel protein-regulation technology to develop engineered tumor infiltrating lymphocyte, (“TIL”), cell therapies, today announced that they have entered into a definitive merger agreement to combine in an all-stock transaction. The combination will be accomplished by both companies becoming wholly owned subsidiaries of a newly formed company. Upon completion of the transaction, the combined company plans to operate under the name Obsidian Therapeutics, Inc. and will apply to trade on Nasdaq under the ticker symbol “OBX.”
Galera’s development strategy shifts from toxicity reduction to anti-cancer therapeutics, with three trials in patients with highly resistant subsets of advanced breast cancer.
Galera Therapeutics shares are trading lower by 34.8% during Monday's session. The company said its shares will be delisted due to non-compliance with Nasdaq's continued listing standards.
MALVERN, Pa., May 03, 2024 (GLOBE NEWSWIRE) -- Galera Therapeutics, Inc. (Nasdaq: GRTX), a biopharmaceutical company focused on developing a pipeline of novel, proprietary therapeutics that have the potential to transform radiotherapy in cancer, today announced that its Board of Directors (the “Board”) has unanimously resolved to adopt a limited duration stockholder rights agreement (the “Rights Agreement”) to protect stockholder interests.
Shares of Doma Holdings Inc. (NYSE: DOMA) rose sharply in today’s pre-market trading after the company entered a merger transaction with TRG to go private at $6.29 per share in cash. Doma Holdings shares jumped 34.1% to $6.09 in pre-market trading
