FSTX - F-star Therapeutics drops amid concern about CFIUS approval for Sino-Biopharma

• F-star Therapeutics ( NASDAQ: FSTX ) fell 16% in premarket trading at least party on investor concern about CFIUS approval for the company's sale to Sino-Biopharma ( OTCPK:SBHMY ).
• A New York Times article from Thursday that the U.S. may extend export control restrictions it has issued in China to areas such as biotechnology appears to be at least part of the reason for investors concern on Wednesday.
• The article comes after F-star ( FSTX ) disclosed last month that a national security review of its sale to Sino-Biopharma ( OTCPK:SBHMY ) moved into an extended review. The CFIUS review of the deal is expected to continue for another 45 days, according to a regulator filing in mid September.
• F-star ( FSTX ) didn't immediately respond to Seeking Alpha email request for comment. Sino-Pharma wasn't immediately available to comment.
• China's Sino Biopharmaceutical's ( OTCPK:SBHMY ) unit invoX Pharma agreed to acquire F-star Therapeutics ( FSTX ) in a $161M all-cash deal in late June. The deal is expected to close in H2 2022.

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