Why Is Jounce Therapeutics Stock Running Higher Today?

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 small 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.