Why Is Jounce Therapeutics Stock Running Higher Today?

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  • board of directors of Jaun Therapeutics Inc (NASDAQ: JNCE) confirmed that Concentra Biosciences LLC made an unsolicited and non-binding offer to acquire 100% of June’s equity,

  • Tang Capital Partners LP Concentra Biosciences is the controlling shareholder. Tang Capital is a shareholder of approximately 10.2% of Jounce.

  • The offer includes $1.80 per share in cash and a contingent value right (CVR), which represents the right to receive 80% of the net proceeds payable from any license or distribution of certain Jounce legacy programs (“CVR Products”) does.

  • Offer subject to limited confirmatory due diligence. This is based on the availability of at least $130 million in cash and cash equivalents.

  • last month, Redex Pharma and Juice Therapeutics agreed to merge through a Proposed all-share transaction,

  • Redx is a clinical-stage biotechnology company focused on the discovery and development of molecule, targeted therapeutics for cancer and fibrotic diseases and fibrosis associated with cancer.

  • Price Action: JNCE shares are up 44.40% at $1.53 at the last check on Wednesday.

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