F-star Therapeutics falls on extended CFIUS review for Sino-Biopharma sale

Sep. 15, 2022 5:07 PM ETF-star Therapeutics, Inc. (FSTX)SBHMYBy: Joshua Fineman, SA News Editor2 Comments

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  • F-star Therapeutics Inc. (NASDAQ:FSTXdropped 2% after the company disclosed that a national security review of its sale to Sino-Biopharma (OTCPK:SBHMY) has moved into an extended review.
  • The CFIUS review of the deal is expected to continue for another 45 days, according to a regulatory filing. The filing also disclosed that the deal was informed of an extended review in mid-August by the UK foreign investment authority.
  • China's Sino Biopharmaceutical's (OTCPK:SBHMY) unit invoX Pharma agreed to acquire F-star Therapeutics (FSTX) in a $161M all-cash deal in late June. The deal is expected to close in H2 2022.

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