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Pardes Biosciences在与空白支票公司FS Development合并后上市
2021-12-27 20:52
07:46 AM EST, 12/27/2021 (MT Newswires) -- Pardes Biosciences said Monday it will now operate as a publicly traded company as it has completed its merger with blank check firm FS Development Corp. II.
The business combination, sponsored by equity firm Foresite Capital, was completed on Dec. 23 after the deal was approved by FSII shareholders. The new entity was renamed Pardes Biosciences. Shares of the combined company will commence trading on the Nasdaq Global Market under the symbol "PRDS," starting today.
As part of the transaction, Pardes Biosciences received gross proceeds of about $274 million, combining about $199 million of funds held in FS Development Corp. II's trust account and a $75 million concurrent PIPE financing. Uri Lopatin will continue as Pardes Biosciences' chief executive while Jim Tananbaum, chief executive officer of Foresite Capital and president and chief executive officer of FS Development Corp. II will continue as a director for Pardes Biosciences.
The biopharmaceutical company is currently testing its oral antiviral drug PBI-0451 as a potential treatment for COVID-19 and expects to release top-line results of phase 1 data in the first quarter.
