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NTGN - Neon Therapeutics Inc.: The BioNTech Acquisition Provides An Exceptional Return
Neon Therapeutics Inc.
On January 15, 2020, Neon Therapeutics, Inc. (NASDAQ: NTGN), a biotechnology company developing novel neoantigen-targeted T cell therapies, entered into a merger agreement with BioNTech SE. (NASDAQ: BNTX), an international biotechnology company, to be acquired in an all-stock deal. The exchange ratio is set at .063 per ADS share of BNTX for every 1 share of NTGN, which values NTGN at approximately $2.04 per share. Currently, the arbitrage spread is roughly 44 percent, or 188 percent annualized. This makes for a terrific opportunity, but there are certain risks that must be assessed before