• The Board of Directors of Jounce Therapeutics Inc. (NASDAQ: JNCEconfirmed that Concentra Biosciences LLC made an unsolicited and non-binding proposal to acquire 100% of the equity of Jounce,

  • Tang Capital Partners LP is the controlling shareholder of Concentra Biosciences. Tang Capital is approximately a 10.2% shareholder of Jounce.

  • The Proposal consists of $1.80 in cash per share plus a contingent value right (CVR) representing the right to receive 80% of the net proceeds payable from any license or disposition of certain of Jounce’s legacy programs (the “CVR Products”).

  • The proposal is subject to limited confirmatory due diligence. It is based on the availability of at least $130 million in cash and cash equivalents.

  • last month, Redx Pharma and Jounce Therapeutics agreed to merge via a proposed all-share transaction,

  • Redx is a clinical-stage biotechnology company focused on discovering and developing small molecule, targeted therapeutics for cancer and fibrotic diseases and cancer-associated fibrosis.

  • Price Action: JNCE shares are up 44.40% at $1.53 at the last check Wednesday.

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This article Why Jounce Therapeutics Stock Is Moving Higher Today? originally appeared on Benzinga.com


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