Ipsen snags an approved cancer drug in $247M M&A deal as another battered biotech sells cheap
You can add Paris-based Ipsen to the list of discount buyers patrolling the penny stock pack for a cheap M&A deal.
The French biotech, which has had plenty of its own problems to grapple with, has swooped in to buy Epizyme $EPZM for $247 million in cash and a CVR with milestones attached to it. Epizyme shareholders, who had to suffer through a painfully soft launch of their EZH2a inhibitor cancer drug Tazverik, will get $1.45 per share along with a $1 CVR tied to achieving $250 million in sales from the drug over four consecutive quarters as well as an OK for second-line follicular lymphoma by Jan. 1, 2028.
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