McNicoll, Lewis & Vlak Maintains Icagen Hold

McNicoll, Lewis & Vlak maintained its Icagen ICGN Hold rating in a research report published today. In the report, McNicoll, Lewis & Vlak states, "We maintain our hold rating as ICGN prepares for its acquisition by Pfizer. It should be noted that ICGN's second largest shareholder, Merlin Nexus, wrote a letter to the ICGN board on July 28, stating their belief that ICGN was undervalued in the proposed acquisition. We agree that Pfizer's bid significantly undervalues the company. As a reminder, our previous estimates assessed a value of ICGN at $8/share." Shares of Icagen were trading at $5.97 at the time of posting, up 0.17% from Wednesday's market close.