Mi­to­chon­dria biotech re­ceives Morn­ing­side buy­out of­fer af­ter PhII fail; On­col­o­gy mi­cro­cap with­draws IPO plans

Not even two months af­ter re­port­ing a Phase II fail for its lead drug can­di­date, Stealth Bio­Ther­a­peu­tics is now be­ing eyed for a po­ten­tial ac­qui­si­tion, with one firm want­i­ng to take it pri­vate.

Stealth re­port­ed Mon­day that Morn­ing­side Ven­ture In­vest­ments sent Stealth’s board of di­rec­tors a non-bind­ing pre­lim­i­nary pro­pos­al to ac­quire all out­stand­ing shares not yet owned by Morn­ing­side for 2.6 cents per share and 31.3 cents per ADS.

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