Checkmate Pharmaceuticals Shares Take Flight on Regeneron Deal
19 Abril 2022 - 10:46AM
Dow Jones News
By Colin Kellaher
Shares of Checkmate Pharmaceuticals Inc. more than quadrupled in
premarket trading Tuesday after the clinical-stage
biopharmaceutical company agreed to be acquired by Regeneron
Pharmaceuticals Inc. for about $250 million.
Regeneron is paying $10.50 a share in cash for Checkmate, more
than four times Monday's closing price of $2.41 for the Cambridge,
Mass., company and more than 30% above the stock's 52-week high of
$7.97 reached last May.
The deal is slated to close by mid-year.
Checkmate shares were recently changing hands at $10.40, up
332%, in premarket trading, while Regeneron shares slipped 0.4% to
$720.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 19, 2022 09:31 ET (13:31 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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