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Yumanity stock soars 46% on all-stock merger with Kineta; lead product sale to J&J for $26M

Jun. 06, 2022 7:21 AM ETKineta, Inc. (KA), JNJMRKBy: Ravikash, SA News Editor2 Comments

Connected puzzle pieces with the acronym M&A. Merger and acquisition in business

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Yumanity Therapeutics (NASDAQ:YMTX) is selling its lead clinical-stage product YTX-7739 to Johnson & Johnson (NYSE:JNJ) for $26M in cash and is merging with privately-held Kineta in an all-stock transaction.

Yumanity said it is selling YTX-7739 and its unpartnered discovery-stage

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Comments (2)

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NDHT profile picture
Based on the so called FDA conspiracy hypothesis, they did it again.

In January, the FDA put its lead program on hold. Five months later, the big Pharma J&J got the whole thing at cheap.

Apparently, J&J doesn't think that the Hold is a big deal, but Yumanity management simply gave up. In addition, they also have collaboration with Merck on ALS.

That's the difference between a fighter and "flighter".
baibeiye profile picture
YMTX has been stealing money from shareholders since SPAC.
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