ACELYRIN Confirms Concentra Biosciences Offer; Shares Up 11% In After-Hrs

ACELYRIN

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(RTTNews) - Clinical biopharma company ACELYRIN, Inc. (SLRN) on late Thursday confirmed that it has received an unsolicited indication of interest from Concentra Biosciences, LLC, of which Tang Capital Partners, LP is the controlling shareholder.

ACELYRIN shares were up around 11 percent on Thursday's after-hours trading.

As per the offer, Concentra Biosciences will acquire all the outstanding ACELYRIN shares for $3.00 per share in cash, in addition to a contingent value right. This contingent value right allows for the receipt of 80 percent of the net proceeds from any out-license or disposition of ACELYRIN's development programs or intellectual property.

Earlier, on February 6, ACELYRIN had revealed an agreement to merge with Alumis Inc. (ALMS) in an all-stock transaction. The deal is expected to close in the second quarter of 2025, following approval by the stockholders of both companies and completion of other customary closing conditions.

The company added that a further announcement regarding the transaction will be made in due course of time.

On the NASDAQ, the company's stock closed Thursday's regular trade at $2.1700, up 0.93%.

The shares gained 10.63% in the after-hours trading to touch $2.4007.