AcelRx in deal to buy Tetraphase
Californian company AcelRx Pharmaceuticals (Nasdaq: ACRX) has announced a deal to buy privately-held US biopharma Tetraphase Pharmaceuticals.
AcelRx, a specialty pharma focused on the development and commercialization of therapies for use in healthcare institutions, has agreed a stock-for-stock deal at an exchange ratio of 0.6303 shares of AcelRx for each share of Tetraphase, or approximately $14.4 million, plus a contingent value right (CVR).
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