SVB Leerink initiated coverage on Pardes Biosciences
$PRDS
Medicinal Chemicals and Botanical Products
Health Care
SVB Leerink initiated coverage of Pardes Biosciences with a rating of Outperform
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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