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New SC 13D/A from TANG CAPITAL MANAGEMENT LLC concerning $ALLK. See details at https://t.co/cGMvxTDLbl
New SC 13D/A from GAMCO INVESTORS, INC. ET AL concerning $VOXX. See details at https://t.co/UzwfZLVndV
Another idea working out with Kevin Tang's involvement. Tang Capital bids $0.33/share in cash for $ALLK, 20% above the write-up levels. A small discount to net cash, plus proceeds from any IP sales, goes to him. Link to the full write-up in the comment section. https://t.co/g4TTmvRx7H
Allakos Inc. ($ALLK) is set to be acquired by Concentra Biosciences, LLC, in a definitive merger agreement that values the company at $0.33 per share in cash. The acquisition is part of a tender offer scheduled to launch by April 15, 2025. Following the announcement, Allakos shares surged by approximately 46%. This acquisition is seen as a potential lifeline for the company amid ongoing challenges in the biotech sector. In related market activity, other biotech stocks such as QNRX and SBFM also reported significant gains, with QNRX rising by 90% after announcing positive clinical data, and SBFM increasing by 50% following the results of its mRNA cancer therapy.
