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Pardes Biosciences Inc - PRDS STOCK NEWS

Welcome to our dedicated news page for Pardes Biosciences (Ticker: PRDS), a resource for investors and traders seeking the latest updates and insights on Pardes Biosciences.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Pardes Biosciences's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Pardes Biosciences's position in the market.

Rhea-AI Summary
Pardes Biosciences completes tender offer, becoming wholly owned subsidiary of MediPacific
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Foresite Capital's affiliate, Purchaser, has commenced a tender offer to acquire Pardes Biosciences for $2.13 per share in cash, plus a non-tradeable contingent value right (CVR) associated with future monetization of Pardes' COVID-19 antiviral portfolio. As of August 25, 2023, approximately 13.2% of Pardes' outstanding shares have been validly tendered. The acquisition is expected to close in Q3 2023.
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MediPacific Sub, Inc. and MediPacific, Inc., affiliates of Foresite Capital, have extended their tender offer to acquire Pardes Biosciences, Inc. for $2.13 per share. The Offer's expiration date is now August 30, 2023. As of August 16, 2023, 301,496 shares of Pardes' common stock have been tendered. The acquisition is expected to close in Q3 2023.
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Pardes Biosciences, Inc. has entered into a merger agreement with MediPacific, Inc. for a cash price per share of $2.02, plus additional cash based on net cash at closing. The merger includes a contingent value right associated with future monetization of its COVID-19 antiviral portfolio. The acquisition is recommended by the Special Committee and is expected to close in Q3 2023.
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15.14%
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Pardes Biosciences reports Q1 2023 financial results with a net loss of $17.8 million, a decrease from the previous year. Research and development expenses decreased by $0.2 million while general and administrative expenses decreased by $1.4 million. Cash and cash equivalents as of March 31, 2023, were $172.2 million.
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8.33%
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clinical trial covid-19
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3.85%
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0.48%
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1.95%
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management
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-7.02%
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Pardes Biosciences Inc

Nasdaq:PRDS

PRDS Rankings

PRDS Stock Data

133.95M
14.06M
13.47%
72.06%
1.41%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
Link
United States
Carlsbad

About PRDS

better chemistry committed to the world's biggest problems