The total cash amount that Purchaser will pay pursuant to the terms of the Offer and the Merger Agreement is $2.13 per share.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/18/2023 | Mkt Outperform → Mkt Perform | JMP Securities | |
| 3/15/2022 | Outperform | SVB Leerink | |
| 1/18/2022 | $25.00 | Buy | Jefferies |
CARLSBAD, Calif., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS) (Pardes or the Company) today announced that MediPacific, Inc. (MediPacific), an affiliate of Foresite Capital, through its wholly owned subsidiary MediPacific Sub, Inc. (Merger Sub), has successfully completed the previously announced tender offer to acquire all of Pardes' outstanding shares of common stock for a per share price of (i) $2.13 in cash (the Cash Amount), plus (ii) a non-tradeable contingent value right (each, a CVR and each CVR together with the Cash Amount, the Offer Price) associated with any future monetization of its COVID-19 antiviral portfolio and related intellectual property.
As previously announced, on July 16, 2023, MediPacific Sub, Inc. ("Purchaser") and MediPacific, Inc. ("Parent"), affiliates of Foresite Capital, entered into a definitive agreement and plan of merger (the "Merger Agreement") with Pardes Biosciences, Inc. (NASDAQ:PRDS) ("Pardes") whereby Purchaser agreed to acquire, subject to the terms of the Merger Agreement, Pardes for a price per share in cash, plus a non-tradeable contingent value right (the "CVR") associated with any future monetization of Pardes' COVID-19 antiviral portfolio and related intellectual property. Pursuant to the Merger Agreement, on July 28, 2023, Purchaser and Parent commenced a tender offer for any or all of Pardes' out
As previously announced, on July 16, 2023, MediPacific Sub, Inc. ("Purchaser") and MediPacific, Inc. ("Parent"), affiliates of Foresite Capital, entered into a definitive agreement and plan of merger (the "Merger Agreement") with Pardes Biosciences, Inc. (NASDAQ:PRDS) ("Pardes") whereby Purchaser agreed to acquire, subject to the terms of the Merger Agreement, Pardes for a price per share of not less than $2.02 in cash and an additional cash amount of not more than $0.17 per share (the "Additional Price Per Share"), plus a non-tradeable contingent value right (the "CVR") associated with any future monetization of Pardes' COVID-19 antiviral portfolio and related intellectual property. Pursua
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JMP Securities downgraded Pardes Biosciences from Mkt Outperform to Mkt Perform
SVB Leerink initiated coverage of Pardes Biosciences with a rating of Outperform
Jefferies initiated coverage of Pardes Biosciences with a rating of Buy and set a new price target of $25.00
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Carver Biosciences, Inc., a biotech company focused on the development of CRISPR/Cas13 antivirals, today announced the formation of its Scientific Advisory Board (SAB). Cameron Myhrvold Ph.D., co-founder of Carver will serve as the chairman of the SAB. Additional appointments include Uri Lopatin, M.D., Olivia Merkel, Ph.D., and Neville Sanjana, Ph.D. "I am thrilled to have Dr. Lopatin, Dr. Merkel and Dr. Sanjana join our advisory board," said Dr. Walter Strapps, co-founder and CEO of Carver. "Along with Dr. Myhrvold, these scientific leaders will help us shape our pipeline and advance our programs into the clinic." Uri Lopatin, M.D. Dr. Lopatin is a serial biotech entrepreneur who founde
CARLSBAD, Calif., Sept. 14, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential stand-alone, novel oral antiviral drug candidate for the treatment and prevention of SARS-CoV-2 infections and COVID-19 disease, today announced the appointments of Laurie Smaldone Alsup, M.D. and John C. Pottage, Jr., M.D. to its Board of Directors. "As we advance PBI-0451 into a Phase 2 study, I am delighted to welcome both Laurie and John to our Board and look forward to leveraging their deep experience and insights as we take the next steps in development," said Tom Wiggans, Chief Executive Officer and Chair of the B
Mr. Wiggans brings over 40 years of biopharmaceutical industry experience, including over 25 years in chief executive leadership roles with multiple successful acquisitions. His expertise will be beneficial to Pardes as the company rapidly progresses to late-stage development and regulatory activities, as well as the initial phases of commercialization build-out Uri Lopatin, M.D. to transition to Chief Scientific & Strategic Advisor; Mark Auerbach to transition from Chairman to Board Director CARLSBAD, Calif., March 02, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential novel direct-acting, oral a
PBI-0451 administered twice-daily as a stand-alone agent achieves and maintains PK exposures anticipated to provide potent antiviral activity against SARS-CoV-2 PBI-0451 has been generally well-tolerated and has shown good oral bioavailability Company to host conference call and webcast Tuesday, February 15, 2022 at 3:00 p.m. PT / 6:00 p.m. ET CARLSBAD, Calif., Feb. 14, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential novel direct-acting, oral antiviral drug candidate for the treatment and prevention of SARS-CoV-2 infections and associated diseases (i.e., COVID-19), announced that interim clin
CARLSBAD, Calif., Feb. 09, 2022 (GLOBE NEWSWIRE) -- Pardes Biosciences, Inc. (NASDAQ:PRDS), a clinical-stage biopharmaceutical company developing PBI-0451 as a potential novel direct-acting, oral antiviral drug candidate for the treatment and prevention of SARS-CoV-2 infections and associated diseases (i.e. COVID-19), today announced that a virtual investor event will be hosted by the company's management team following the presentation of clinical data from the ongoing PBI-0451 Phase 1 trial at the 29th Conference On Retroviruses And Opportunistic Infections (CROI) 2022. The conference call and webcast will take place on Tuesday, February 15 at 3:00 p.m. PT / 6:00 p.m. ET. Individuals in
- Reuters
The total cash amount that Purchaser will pay pursuant to the terms of the Offer and the Merger Agreement is $2.13 per share.
Upgrades For Carnival Corp (NYSE:CCL), Argus Research upgraded the previous rating of Hold to Buy. For the second quarter, Carnival had an EPS of $0.31, compared to year-ago quarter EPS of $1.64. At the moment, the stock has a 52-week-high of $19.55 and a 52-week-low of $6.12. Carnival closed at $17.71 at the end of the last trading period. According to Odeon Capital, the prior rating for Citigroup Inc (NYSE:C) was changed from Hold to Buy. Citigroup earned $1.33 in the second quarter, compared to $2.19 in the year-ago quarter. The current stock performance of Citigroup shows a 52-week-high of $54.55 and a 52-week-low of $40.01. Moreover, at the end of the last trading period, the closing
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