Why F-star Therapeutics Shares Are Soaring Today

invoX Pharma, a wholly-owned subsidiary of Sino Biopharmaceutical Limited, has agreed to acquire F-star Therapeutics Inc FSTX for $7.12 per share.
The proposed acquisition values F-star at approximately $161 million.
Just a year ago, F-star priced its IPO at $7.
F-star's next-generation tetravalent (2+2) bispecific antibody platform complements Sino Biopharma's existing capabilities and reinforces its global oncology pipeline.
Four programs are progressing in the clinic, three based on F-star's tetravalent platform and one next-generation STING agonist, with multiple further undisclosed programs in development.
Leveraging its modular antibody technology, F-star has forged collaborations with major international biopharma companies across a wide range of therapeutic areas, including oncology, immunology, and neurology.
Related: F-star Shares Rise On Bispecific Antibody Therapeutics Pact With Janssen.
The invoX and F-star Board of Directors have unanimously approved the transaction. It is expected to close in 2H of 2022.
invoX, established in 2021 in the U.K., is Sino Biopharma's international expansion platform, focusing on R&D and business development activities outside of China, with a core focus on oncology and respiratory therapeutics.
Price Action: FSTX shares are up 67.1% at $6.65 during the premarket session on the last check Thursday.

F-star Therapeutics Shares Are Rallying Today - Read Why