Regeneron to Buy Checkmate Pharmaceuticals for About $250 Million
19 Aprile 2022 - 1:47PM
Dow Jones News
By Colin Kellaher
Regeneron Pharmaceuticals Inc. on Tuesday said it agreed to buy
clinical-stage biopharmaceutical company Checkmate Pharmaceuticals
Inc. for about $250 million in a deal that bolsters Regeneron's
portfolio of diverse and combinable immuno-oncology candidates.
Regeneron said it will pay $10.50 a share in cash for Checkmate,
more than four times Monday's closing price of $2.41 for the
Cambridge, Mass., company.
Regeneron said Checkmate's lead investigational asset,
vidutolimod, is currently being studied in combination with other
agents for melanoma, nonmelanoma skin cancers, and head and neck
cancer.
The Tarrytown, N.Y., biotechnology company said it expects to
complete the acquisition around the middle of the year.
Trading in shares of Checkmate was halted premarket Tuesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 19, 2022 07:32 ET (11:32 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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