Spherix up 46% premarket on planned tie-up with CBM BioPharma

|About: Spherix Incorporated (SPEX)|By:, SA News Editor

Thinly traded nano cap Spherix (NASDAQ:SPEX) is up 46% premarket on increased volume following its announced merger agreement with privately held CBM BioPharma. The tie-up will give Spherix access to two drug candidates: KPC34 for two types of leukemia (AML and ALL) and DHA-dFdC for pancreatic cancer.

Under the terms of the deal, Spherix will issue 15M shares of its common stock to CBM at $1.10 per share.

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