FSTX - F-star Therapeutics gains after deal termination date with buyer extended again

F-star Therapeutics ( NASDAQ: FSTX ) rose 2.3% in premarket trading after announcing that it's extended the end date for its planned merger with invoX Pharma again as it continues to negotiate a possible mitigation agreement with CFIUS.

The end date is being extended from Friday until Feb. 24, according to a regulatory filing on Thursday. The tender offer for the deal was also extended until Feb. 22.

The latest extension comes after F-Star ( FSTX ) extended the termination date last Wednesday as it tries to work out a mitigation agreement with CFIUS that would allow the deal to go pass. The parties extended the deadline before in late December .

F-star ( FSTX ) shares surged 20% last Wednesday after F-star announced it was extending the termination date. The move last Wednesday partly reversed a 26% drop on Jan. 26 after a report that that the buyer of the company didn't expect a favorable outcome from CFIUS.

F-star Therapeutics plunged 40% on Dec. 29 after CFIUS issued an interim order blocking its planned sale to Sino Biopharmaceutical ( OTCPK:SBHMY ).

China's Sino Biopharmaceutical's ( OTCPK:SBHMY ) unit invoX Pharma agreed to acquire F-star ( FSTX ) in a $161M all-cash deal in late June.

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