AcelRx Amends its Agreement to Acquire Tetraphase Pharmaceuticals
https://www.pharmashots.in/press-releases/acelrx-pharmaceuticals-announces-revised-merger-agreement-with-tetraphase/
Shots:
- Under the amended agreement, AcelRx to acquire Tetraphase for $30M ($24.6M in stock and $5.4M in cash) with an additional $14.5M in CVRs, payable in cash. The transaction is expected to close following the Tetraphase’s stockholder meeting, currently set for Jun 08, 2020
- Tetraphase will receive $0.2434 in cash/ share of Tetraphase common stock and 0.7217 shares of AcelRx common stock, representing ~ $1.34 in upfront/ share, based AcelRx closing share price on May 22, 2020, and one CVR entitling the Tetraphase to receive up to $14.5M in cash upon the achievement of certain milestones on Xereva’s sales, starting in 2021
- Companies reported that there will be no changes in their co-promotion agreement for Xerava and Dsuvia to treat cIAI and acute pain in medically supervised settings to generate significant commercial synergies respectively
Click here to read full press release/ article | Ref: Business wire | Image: PRWeek
Related News: AcelRx to Acquire Tetraphase Pharmaceuticals to Expand its Product Portfolio