Pieris Pharma surges on all-stock merger deal

seekingalpha07-24

Shares of Pieris Pharmaceuticals (NASDAQ:PIRS) climbed ~70% in the morning hours on Wednesday afterthe nano-cap biotech agreed to an all-stock merger agreement with Palvella Therapeutics, a privately ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2453462886?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1389510306/image_1389510306.jpg","is_english":true,"pubTime":"2024-07-24 22:39","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2453462886","market":"hk","top_or_hot":-1,"title":"Pieris Pharma surges on all-stock merger deal","media":"seekingalpha","content":"<div>\n<p>Shares of Pieris Pharmaceuticals (NASDAQ:PIRS) climbed ~70% in the morning hours on Wednesday afterthe nano-cap biotech agreed to an all-stock merger agreement with Palvella Therapeutics, a privately ...</p>\n\n<a href=\"https://seekingalpha.com/news/4127566-pieris-pharma-stock-surges-merger-deal\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pieris Pharma surges on all-stock merger deal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPieris Pharma surges on all-stock merger deal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-24 22:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4127566-pieris-pharma-stock-surges-merger-deal><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Pieris Pharmaceuticals (NASDAQ:PIRS) climbed ~70% in the morning hours on Wednesday afterthe nano-cap biotech agreed to an all-stock merger agreement with Palvella Therapeutics, a privately ...</p>\n\n<a href=\"https://seekingalpha.com/news/4127566-pieris-pharma-stock-surges-merger-deal\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PIRS","symbol_name":"Pieris Pharmaceuticals, Inc.","start_time":0,"source_url":"https://seekingalpha.com/news/4127566-pieris-pharma-stock-surges-merger-deal","article_id":"2453462886","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1389510306/image_1389510306.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2453462886","pubTimestamp":1721831954,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Shares of Pieris Pharmaceuticals  climbed ~70% in the morning hours on Wednesday afterthe nano-cap biotech agreed to an all-stock merger agreement with Palvella Therapeutics, a privately held clinical-stage biotech.  Per the terms, Pieris  will issue shares of its common stock to Palvella stockholders, who are expected to own roughly 82% of the combined entity, while Pieris  shareholders will own the rest. The combined entity, to be named Palvella Therapeutics and headquartered in Wayne, PA, is expected to trade on Nasdaq once the transaction concludes in Q4 2024, subject to approvals from shareholders of both companies.  The merged company will focus on Palvella’s lead candidate, Qtorin rapamycin  targeted at a range of rare skin diseases. Concurrently, a group of healthcare-focused investors has agreed to provide Palvella with approximately $78.9M as part of a private financing initiative.  The transaction, which is anticipated to close immediately after the merger, is expected to bo","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PIRS":"Pieris Pharmaceuticals, Inc.","BK4139":"生物科技"},"translate_title":"Pieris Pharma因全股票合并交易而股价飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PIRS":1},"content_text":"Shares of Pieris Pharmaceuticals (NASDAQ:PIRS) climbed ~70% in the morning hours on Wednesday afterthe nano-cap biotech agreed to an all-stock merger agreement with Palvella Therapeutics, a privately held clinical-stage biotech.  Per the terms, Pieris (PIRS) will issue shares of its common stock to Palvella stockholders, who are expected to own roughly 82% of the combined entity, while Pieris (PIRS) shareholders will own the rest. The combined entity, to be named Palvella Therapeutics and headquartered in Wayne, PA, is expected to trade on Nasdaq once the transaction concludes in Q4 2024, subject to approvals from shareholders of both companies.  The merged company will focus on Palvella’s lead candidate, Qtorin rapamycin (Qtorin 3.9% rapamycin anhydrous gel) targeted at a range of rare skin diseases. Concurrently, a group of healthcare-focused investors has agreed to provide Palvella with approximately $78.9M as part of a private financing initiative.  The transaction, which is anticipated to close immediately after the merger, is expected to boost the combined entity’s cash and cash equivalents to roughly $80.5M and extend its cash runway through H2 2027.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2453462886"}