Pavel Raifeld, Innoviva CEO

Cash-strapped an­tibi­otics play­er En­ta­sis could go pri­vate with a small-dol­lar buy­out of­fer on the ta­ble

It looks like an­tibi­otics play­er En­ta­sis may be get­ting off Nas­daq the same way it ar­rived — with a whim­per.

En­ta­sis re­vealed in an SEC fil­ing that In­no­vi­va, the hold­ing com­pa­ny that al­ready owns a good chunk of its shares, is of­fer­ing to ac­quire all of its out­stand­ing stock and take the biotech pri­vate.

At $1.80 per share, In­no­vi­va’s non-bind­ing pro­pos­al comes at a 23% pre­mi­um to En­ta­sis’ cur­rent trad­ing price, which rep­re­sents just a frac­tion of its IPO price back in 2018.

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