Failed NewLink goes dark in a reverse merger, as Lumos jumps on board for a ride to Wall Street
Three years ago shares of NewLink Genetics traveled at a lofty altitude above $50 a share, with some high hopes riding on IDO. Now those hopes have been thoroughly quashed, along with the shares, with a miniaturized market cap of $59 million and a stock price of $1.59. The company founder, Charles Link, left a couple of months ago.
And that makes it a fit vehicle for a reverse merger.
That’s what Lumos Pharma thinks. This morning the company said that they would merge into the public biotech, with a 50/50 share going to investors at each. When it’s over early next year, they’ll rename the company Lumos and trade as $LUMO.
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