Silverback Therapeutics Entered into a Definitive Merger Agreement with ARS for Neffy to Treat Type I Allergic Reactions
Shots:
- The combined company will have ~$265M in cash, cash equivalents & marketable securities upon closing, and $240M in Silverback’s net cash at closing. The merger is expected to close in Q4'22
- The combined company will be renamed ARS Pharmaceuticals & listed on the Nasdaq under the ticker symbol “SPRY.” Silverback equity holders will own ~37% & pre-merger ARS equity holders will own ~63% of the combined company on a fully diluted basis on a treasury stock
- The combined company will focus on the regulatory approval & commercialization of neffy for type I allergic reactions incl. anaphylaxis. ARS plans to submit neffy's NDA for use in adults & pediatric patients in Q3'22 with an expected launch in the US in 2023
Ref: Bussinesswire | Image: Silverback Therapeutics
Click here to read the full press release
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
