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What Is Motivating Translate Bio (TBIO) Stock Higher In Pre-hour Trades?

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The stock of Translate Bio Inc. (TBIO) soared 30.36% to $38.00 in pre-hours trading today. At the end of the last trading session, the TBIO stock closed at $29.15, up 5.46%. The price range of Translate Bio stock was $28.01 to $29.60. There were 1.06 million shares traded, which is below its 100-day average of 1.1 million shares. In the last five days, Translate Bio shares have declined by 15.31%, whereas in the last month they have increased by 2.79%. The price of TBIO stock rose after an acquisition bid was announced.

Who has made an offer to acquire TBIO?

Translate Bio is a clinical-stage biotech company developing mRNA therapeutics to treat protein and gene disorders or to prevent infectious diseases with the creation of antibody protection. A Phase 1/2 study is evaluating Translate Bio’s candidate for inhaled treatment for cystic fibrosis based on its proprietary pulmonary technology. Moreover, the platform may be applied to various treatment classes, such as therapeutic antibodies and protein degradation. TBIO and Sanofi Pasteur are also collaborating in order to develop mRNA vaccines for infectious diseases.

Sanofi has entered into a definitive agreement with Translate Bio in an effort to accelerate the use of messenger RNA (mRNA) in the development of therapeutics and vaccines.

  • TBIO shares will be acquired by Sanofi for $38.00 per share in cash under the agreement. TBIO’s equity value is approximately $3.2 billion at the offered price.
  • TBIO’s and Sanofi’s Boards of Directors approved the deal unanimously.
  • Translate Bio’s equity value is estimated to be approximately $3.2 billion based on the merger agreement with Sanofi, which provides for a cash tender offer of $38.00 per share for all outstanding shares of TBIO common stock.
  • In comparison to the volume-weighted average price per share of TBIO over the 60 days preceding the purchase, the purchase price represents a 56% premium.
  • TBIO and Sanofi are both committed to innovation in the mRNA industry.
  • TBIO’s mRNA technology has just become even more relevant, leveraging Sanofi’s worldwide experience in developing and commercializing vaccines and innovative medicines.
  • TBIO has built its mRNA platform on the foundation of a talented and dedicated team.

What led to the acquisition?

The combined expertise of Translate Bio and Sanofi has resulted in significant progress during the collaboration thus far, and the acquisition should help to fully exploit mRNA’s potential. Translate Bio (TBIO) and Sanofi entered into an exclusive license agreement in June 2018 to develop mRNA vaccines. This agreement was further expanded in 2020 to address a broad range of infectious diseases.

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