G1 Therapeutics To Be Acquired By Pharmacosmos For $7.15/shr In Cash

(RTTNews) - G1 Therapeutics, Inc. (GTHX) announced Wednesday an agreement to be acquired by Pharmacosmos A/S, through its U.S. subsidiary Pharmacosmos Therapeutics Inc., for $7.15 per share in cash. Following this news the shares are up 66% in the pre-market.

The acquisition values G1 at approximately $405 million, reflecting a 68 percent premium over its closing price on August 6, 2024.

The merged entity will enhance its commercial outreach to oncologists, as G1 contributes a commercial, sales, and medical infrastructure to Pharmacosmos. This partnership leverages Pharmacosmos's complementary knowledge in the commercialization of hematology and supportive care products, alongside its strong global commercial footprint and substantial resources, to optimize the market entry of COSELA, G1's FDA-approved medication, into the ES-SCLC sector.

The completion of the transaction is anticipated in the late third quarter of 2024.

In pre-market activity on the Nasdaq, the shares are trading at $7.06, up 66.14%.