Silverback Therapeutics and ARS Pharma to merge
USA-based biopharma firm Silverback Therapeutics (Nasdaq: SBTX) and ARS Pharmaceuticals have entered into a definitive agreement under which ARS will merge with Silverback in an all-stock transaction.
Shares of Silverback traded down more than 10% to $3.94 in after-hours activity yesterday. Earlier this year the company also fell back, when it announced that it is shutting down its targeted oncology programs and cutting its workforce by 27% as it refocuses resources on developing chronic hepatitis B drugs and its ImmunoTAC drug discovery platform. It also reported a net loss of $89.5 million for 2021 compared to a net loss of $32.9 million in 2020.
The combined company will focus on the potential regulatory approval and commercialization of neffy, ARS’s investigational epinephrine nasal spray for the treatment of Type I allergic reactions including anaphylaxis.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze