PRVL - Eli Lilly shares up as it completes Prevail Therapeutics deal

Eli Lilly and Company shares rise ([[LLY]] +2.4%) on the back of the drugmaker's completion of its acquisition of Prevail Therapeutics ([[PRVL]]) enabling the creation of a gene therapy program that will be anchored by Prevail's portfolio of clinical-stage and preclinical neuroscience assets.The impact of this transaction will be reflected in Lilly's 2021 financial results, Eli Lilly said.However, the company said that there will be no change to its 2021 financial guidance for research and development expense or non-GAAP earnings per share, due to the deal.Eli Lilly inked a deal to acquire Prevail for $22.50/share in cash (or an aggregate of ~$880M) payable at closing plus one non-tradable contingent value right (CVR) worth up to $4.00/share in cash (~$160M), for a total consideration of up to $26.50/share in cash, for ~$1.04B, in December last year.

For further details see:

Eli Lilly shares up as it completes Prevail Therapeutics deal