ISEE - Iveric Bio gains after HSR waiting period for Astellas deal expires
2023-06-26 09:31:58 ET
Iveric Bio ( NASDAQ: ISEE ) rose 2.2% after the HSR waiting period for its planned sale to Astellas Pharmaceuticals ( OTCPK:ALPMY ) expired.
The HSR waiting period for the Iveric ( ISEE ) sale expired on Friday, according to a regulatory filing.
The latest development is an important one, as M&A investors have been concerned about antitrust approval in the biotech space after the Federal Trade Commission sued last month to block Amgen's ( AMGN ) planned $28 billion purchase of Horizon Therapeutics ( HZNP ).
Earlier this month, Iveric Bio ( ISEE ) set July 6 as the date for its shareholders to vote on its sale to Astellas ( OTCPK:ALPMY ). The July date is an important one because it comes well before an Aug. 19 PDUFA date for Iveric's lead drug, Zimura. Some investors feared that the deal could run past the PDUFA date.
Astellas Pharma ( OTCPK:ALPMY ) agreed to acquire Iveric Bio ( ISEE ) for $5.9 billion, or $40 a share , to add ophthalmology capabilities to the Japanese pharmaceutical giant.
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Iveric Bio gains after HSR waiting period for Astellas deal expires