
Jean-Pierre Sommadossi, Atea Pharmaceuticals CEO
Atea confirms unsolicited cash proposal from Tang Capital’s Concentra, the shell buying Jounce Therapeutics
Atea Pharmaceuticals, which went public in the fall of 2020 with the hopes of treating Covid-19 and other infectious diseases but has since struggled, said it has received an unsolicited proposal from Tang Capital’s Concentra Biosciences, a newly formed company that is in the process of also acquiring Jounce Therapeutics.
The Boston biotech confirmed what had been speculated on Monday, which sent the company’s shares $AVIR soaring. They fell about 2.5% on Tuesday to about $4.9.
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