Seeking Alpha
 

Raptor Pharmaceutical Corp. (RPTP)

- NASDAQ
  • Wed, Jan. 14, 9:42 AM
    • In an all-stock transaction, privately-held Tobira Therapeutics will merge with a wholly-owned subsidiary of Regado Biosciences (RGDO +59.3%). The combined organization, renamed as Tobira Therapeutics, will focus on the development of novel treatments for liver and inflammatory diseases. Tobira CEO Laurent Fischer, M.D., will lead the firm.
    • Tobira's lead product is cenicriviroc (CVC), a Fast Track-designated anti-fibrotic agent currently in Phase 2 development for non-alcoholic steatohepatitis (NASH).
    • A Tobira investor syndicate has committed to invest up to $22M to fund CVC's development through Phase 2. Tobira's quick asset balance will be ~$60M after the investment.
    • Under the terms of the merger, Regado shareholders will own ~32% of the combined entity while Tobira shareholders will own ~68%. The specific allocation will depend on Regado's net cash balance at the time of the transaction.
    • NASH-related tickers: (NASDAQ:ICPT) (NASDAQ:GILD) (NASDAQ:GALT) (NASDAQ:SHPG) (NASDAQ:LJPC) (NASDAQ:CNAT) (NASDAQ:RPTP)
    | 5 Comments
Visit Seeking Alpha's
RPTP vs. ETF Alternatives
Company Description
Raptor Pharmaceutical Corp is abiopharmaceuticalcompany. It is engaged indeveloping and commercializing transformative treatments for people affected by rare and debilitating diseases.