- Thinly traded nano cap Alcobra (ADHD) is up 15% premarket on light volume on the news that it has agreed to merge with privately held Arcturus Therapeutics in an all-stock transaction. The combined company will focus on developing RNA medicines to treat infectious diseases, cystic fibrosis, NASH and rare liver diseases.
- Under the terms of the merger agreement, Alcobra shareholders will own ~40% of the combined firm while Arcturus shareholders will own ~60%. The deal should close in Q4.
- The companies will host a conference call this morning at 8:30 am ET to discuss the merger.