Aerovate Therapeutics, Inc. (AVTE) has announced a merger agreement with Jade Biosciences, a biotech spinout of Paragon. Following the announcement, AVTE shares experienced a pre-market increase of 23.3%. However, the merger has drawn scrutiny, with Halper Sadeh LLC investigating whether the terms of the merger are fair to shareholders. Additionally, Ademi LLP is also looking into whether Aerovate is obtaining a fair price for its public shareholders. The stock was halted prior to the announcement of the merger.
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