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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