Ono Phar­ma­ceu­ti­cal ac­quires De­ci­phera for $2.4B af­ter biotech's Phase 3 win

Japan­ese drug­mak­er Ono Phar­ma­ceu­ti­cal is ac­quir­ing can­cer-fo­cused biotech De­ci­phera Phar­ma­ceu­ti­cals for $2.4 bil­lion, the com­pa­nies an­nounced Mon­day morn­ing.

The deal will see Ono ac­quire all out­stand­ing De­ci­phera stock at a price of $25.60 per share, rep­re­sent­ing about a 75% pre­mi­um over its Fri­day clos­ing price of $14.65. It’s ex­pect­ed to close in the third quar­ter, the com­pa­nies said in a press re­lease. De­ci­phera’s stock price $DCPH jumped more than 70% in pre-mar­ket trad­ing Mon­day.

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