Metacrine: Potential Play On A Higher Bid [Seeking Alpha]
Equillium, Inc. (EQ)
Last equillium, inc. earnings: 3/26 04:07 pm
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Source: Seeking Alpha
Rasi Bhadramani/iStock via Getty ImagesMetacrine (NASDAQ:MTCRlight and added a different angle here which I believe is quite interesting.MTCR is merging with another nanocap biopharma Equillium (NASDAQ:EQThe main nuance here is that due to a decline in EQ share price since the merger announcement, the all-stock bid now values MTCR at a wide 45% discount to its net cash. At current EQ price of $1.23/share, MTCR shareholders are only receiving $15m worth of EQ shares compared to MTCR's net cash of $27m (expectedBML Investment PartnersGiven how lowball the current offer is compared to MTCR net cash, there seems to be sufficient headroom for a higher offer. For example, if the consideration is raised to 20% discount to net cash, it would result in 30% gain for arb investors. EQ is a clinical stage biopharma with its main candidate in phase 3 (started in Q1'21). The company is a cash burning machine and could definitely use the extra liquidity resulting from MTCR acquisition. So there is a
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EQ
News
- Equillium Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4) [Yahoo! Finance]Yahoo! Finance
- Equillium Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)Business Wire
- Equillium, Inc. (NASDAQ: EQ) had its price target raised by analysts at HC Wainwright from $4.00 to $5.00. They now have a "buy" rating on the stock.MarketBeat
- 5 Stocks That More Than Doubled in Q1 With More Gains Ahead [Yahoo! Finance]Yahoo! Finance
- Equillium Announces Positive Topline Data from the Type B Portion of the Phase 1b EQUALISE Study of Itolizumab in Lupus Nephritis [Yahoo! Finance]Yahoo! Finance
EQ
Earnings
- 3/25/24 - Beat
EQ
Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEFA14A
- 4/11/24 - Form DEF
- EQ's page on the SEC website