Why F-Star Therapeutics Stock Is Getting Obliterated During Thursday's Session

F-Star Therapeutics Inc FSTX shares are trading lower by 39.94% to $4.12 Thursday afternoon after the Committee on Foreign Investment issued an interim order preventing the closing of the pending merger with Invox Pharma.

The interim order also prohibits:

• (1) the transfer, lease, license, sale, or otherwise acquisition of any asset or affiliate of F-star to Sino Biopharm, invoX, or any of their affiliates, or
• (2) the transfer, lease, license, sale, or acquisition otherwise of any securities, equity, or other ownership interests or rights in F-star or any affiliate of F-star, including any rights to acquire any of the foregoing, by Sino Biopharm, invoX, Fennec, or any affiliates of any of the foregoing, including through merger

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Per an SEC filing, the purpose of the Interim Order is to provide CFIUS adequate opportunity to continue its review and investigation. The Parties may provide CFIUS with additional relevant information and CFIUS will consider such information, including information regarding the Interim Order or proposals to mitigate the identified national security risks.

According to data from Benzinga Pro, FSTX has a 52-week high of $6.93 and a 52-week low of $2.07.