Bridge­Bio CEO Neil Ku­mar en­gi­neers a deal to reel back Ei­dos shares. Or is he re­al­ly hunt­ing a buy­out?

A year af­ter Bridge­Bio took its biotech sub­sidiary Ei­dos pub­lic at $17 a share $EI­DX, the moth­er com­pa­ny wants it all back. 

Bridge­Bio CFO Bri­an Stephen­son alert­ed in­vestors in an SEC fil­ing late last week that the San Fran­cis­co-based com­pa­ny pro­posed to buy out the in­vestors who snapped up a third of the eq­ui­ty, shoot­ing for a stock-for-stock deal.

Bridge­Bio, an um­brel­la drug de­vel­op­ment group co-found­ed by CEO Neil Ku­mar which owns 66.6% of Ei­dos, went pub­lic in a record-set­ting IPO a few weeks ago, pric­ing at $17 a share — but now trad­ing north of $26, even af­ter a 10% trim on Fri­day as the news of the fil­ing be­gan to per­co­late.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER