AUM Biosciences to Go Public through Reverse Merger with Mountain Crest for Oncology Therapeutics
Shots:
- The combined company will receive ~$69M in cash, AUM stakeholders will receive $40M shares of the combined company in exchange for AUM stocks at $10/share whereas each Mountain Crest's unredeemed outstanding share & every 10 SPAC rights will be converted into 1 share of the combined company
- The merger is expected to close in Q1’23 & the combined company will be listed on Nasdaq under the ticker symbol, AUMB
- AUM’s AUM001 & AUM601 are being evaluated in the P-II study for cancer indications out of which the study evaluating AUM001 expects to begin enrolment of patients by Q4’22 whereas AUM302 is designed to combine pan-PIM kinase, pan-PI3K, and mTOR inhibition in a single agent to treat the same indication
Ref: Globe Newswire | Image: Aum Biosciences
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.
