Cempra Inc (NASDAQ: CEMP) is likely to have a strong day in the market today. Early this morning, the stock was halted ahead of news that the company has entered into a definitive merger agreement. Of course this is likely to lead to excitement among investors. Before we get into the details, we’d like to give a big thank you to our partners at Trade Ideas for being the first to alert us to the halt.
CEMP Enters Into A Definitive Merger Agreement
As mentioned above, Cempra was halted early this morning before announcing big news. That news was that the company has entered into a definitive merger agreement with Melinta Therapeutics. Under the terms of the agreement, Melinta will merge with a subsidiary of CEMP. It is expected that a NASDAQ-listed company that’s focused on discovering, developing, and commercializing anti-infective therapies for patients and physicians in areas of significant unmet need will be the result of the merger.
In a statement, David Zaccardelli, Pharm.D., and acting CEO of CEMP, had the following to offer…
“The combined company’s extensive pipeline, including commercial, clinical and preclinical stage anti-infective programs with multiple products in development across several indications, provides an exceptional platform to deliver potential long-term growth and value for shareholders.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CEMP. In particular, we’re interested in following this merger and learning about the fruits of the hard work that has come to this. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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