Biotechnology company Novus Therapeutics (NASDAQ: NVUS) yesterday announced it completed the acquisition of Anelixis Therapeutics, sending its stock skyrocketing.
The deal is a stock-for-stock transaction that will see all of Anelixis’ outstanding equity interests exchanged in a merger for a combination of Novus common stock and ordinary shares.
Novus has had to enter into definitive agreements for PIPE investment with existing and new investors to raise around $108 million which will be used to fund the company’s operations which includes advancing its AT-1501 Phase 2 clinical trials.
Sponsored content
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Sponsored content
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Sponsored content
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Sponsored content
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Sponsored content
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
“We are excited about AT-1501 and the potential to develop and commercialize the next generation anti-CD40L antibody, a well-validated target with broad therapeutic possibilities,” commented Keith A. Katkin, Chairman of the Board of Directors at Novus.
David Alexandre C.Gros MD has been appointed Anelixis’ chief executive.
“Through this acquisition and financing, we now have the scientific, organizational and financial resources to build upon a deep historical understanding of the CD40/CD40L pathway, as well as Anelixis’ preclinical and Phase 1 data, to address the needs of people undergoing organ or cellular transplantation, or living with autoimmune and neurodegenerative diseases,” said Gros.
Sponsored
Novus share price…
Novus Therapeutics (NVUS)/Source: TradingView
The announcement saw Novus’ stock price explode higher post and premarket. It is currently trading at $0.84 per share, up 121% ahead of the US market open.
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.
