FSTX - F-star Therapeutics falls on extended CFIUS review for Sino-Biopharma sale
- F-star Therapeutics Inc. ( NASDAQ: FSTX ) dropped 2% after the company disclosed that a national security review of its sale to Sino-Biopharma ( OTCPK:SBHMY ) has moved into an extended review.
- The CFIUS review of the deal is expected to continue for another 45 days, according to a regulatory filing. The filing also disclosed that the deal was informed of an extended review in mid-August by the UK foreign investment authority.
- 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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F-star Therapeutics falls on extended CFIUS review for Sino-Biopharma sale