Kronos Bio将被Concentra Biosciences收购

2025-05-01 20:49

Kronos Bio (NASDAQ:KRON), an oral drug developer targeting cancer and other diseases, announced Thursday a merger agreement to be acquired by San Diego, California-based biotech Concentra Biosciences, LLC, for $0.57 per share in cash.
The deal backed by Kronos' director board allows its shareholders to receive a non-tradeable contingent value right, which can lead to 50%–100% of net proceeds subject to certain conditions.
Kronos (NASDAQ:KRON) said its investors, including officers and directors holding roughly 27% of the company’s common stock, agreed to tender their shares in support of the agreement.
Per the terms, a unit of Concentra is set to start a tender offer by May 15 to buy all outstanding shares of Kronos. The deal is expected to close by mid-2025, subject to the tender of a majority of company shares, availability of at least $40M of cash, and other customary closing conditions.

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