LABP - Why Is Ulcerative Colitis-Focused Landos Biopharma Stock Trading Higher On Monday? | Benzinga
Monday, AbbVie Inc (NYSE:ABBV) agreed to acquire Landos Biopharma Inc (NASDAQ:LABP) for $20.42 per share, or approximately $137.5 million in the aggregate, plus one contingent value right per share with a value of up to $11.14 per share, or approximately an additional $75 million.
The proposed transaction is expected to close in the second calendar quarter of 2024.
Landos’ lead investigational asset is NX-13, a first-in-class, oral NLRX1 agonist (a member of the NOD-like receptor family) with a bimodal mechanism of action (MOA), anti-inflammatory, and facilitates epithelial repair.
“With this acquisition, we aim ...