Kinnate Biopharma’s stock $KNTE soared 59% on Wednesday afternoon after the California drug developer disclosed that two large shareholders have expressed interest in a take-private deal. OrbiMed and Foresite — which own about 29% and 17% of Kinnate’s outstanding common shares, respectively — wrote to the board on Monday expressing an “intent to explore and evaluate a potential acquisition of all of the outstanding shares of common stock” of the San Francisco-based biotech, per an SEC filing.
Read the full article: Investors OrbiMed and Foresite Say They’re Looking at Taking Kinnate Private, Following Pipeline and Staff Cuts //
Source: https://endpts.com/investors-orbimed-and-foresite-say-theyre-looking-at-taking-kinnate-private-following-pipeline-and-staff-cuts