LogicBio Therapeutics Shares Soar on Takeover by AstraZeneca
October 03 2022 - 11:20AM
Dow Jones News
By Colin Kellaher
Shares of LogicBio Therapeutics Inc. skyrocketed Monday after
the genetic-medicine company agreed to be acquired by Anglo-Swedish
pharma giant's AstraZeneca PLC for more than 7.5 times Friday's
closing price.
LogicBio investors will receive $2.07 a share in cash in the $68
million deal, well above Friday's closing level of abut 27.3 cents
but shy of the stock's 52-week high of $4.54 reached nearly a year
ago.
LogicBio shares have fallen over the past year amid setbacks in
its program targeting pediatric patients with the genetic metabolic
disorder methylmalonic acidemia, including a clinical hold by the
U.S. Food and Drug Administration.
LogicBio shares were recently changing hands at $2.02.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 03, 2022 11:05 ET (15:05 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
ContextLogic (NASDAQ:LOGC)
Historical Stock Chart
From Oct 2024 to Nov 2024
ContextLogic (NASDAQ:LOGC)
Historical Stock Chart
From Nov 2023 to Nov 2024
