NGM Bio to re­vert to pri­vate com­pa­ny as MASH po­ten­tial re­mains un­clear

Six­teen years af­ter an­nounc­ing it led NGM Bio’s $25.5 mil­lion Se­ries A, biotech in­vestor The Col­umn Group now plans to take the drug de­vel­op­ment com­pa­ny pri­vate.

TCG is NGM Bio’s largest stock­hold­er, with about 26% of out­stand­ing shares. A spe­cial com­mit­tee of NGM’s board de­ter­mined the take-pri­vate deal is in the “best in­ter­ests” of stock­hold­ers, per a Mon­day morn­ing press re­lease.

At $1.55 per share, the cash deal would give NGM an eq­ui­ty val­ue of $135.0 mil­lion. At the end of 2023, the biotech’s es­ti­mat­ed cash, cash equiv­a­lents and short-term mar­ketable se­cu­ri­ties were $144.2 mil­lion.

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