So­ci­etal CD­MO to be bought by an­oth­er man­u­fac­tur­er, Cor­eRx, for $1.10 a share

Small mol­e­cule man­u­fac­tur­er So­ci­etal CD­MO will be ac­quired by drug man­u­fac­tur­er Cor­eRx for $1.10 a share, with So­ci­etal hav­ing re­cent­ly un­der­gone “strate­gic re­align­ment” and down­siz­ing of its ear­ly-stage ser­vices.

As of Nov. 1, So­ci­etal has 104.8 mil­lion out­stand­ing shares. Ac­cord­ing to William Blair, the deal brings the CD­MO’s val­ue to $130 mil­lion. Its stock $SCTL sky­rock­et­ed 130% be­fore the mar­ket opened on Wednes­day. It has a $48.2 mil­lion mar­ket cap.

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