BUZZ-Acelyrin jumps on Concentra Biosciences' buyout offer amid pending merger with Alumis

Updates

Shares of drug developer Acelyrin SLRN.O rise 17.5% to $2.55 premarket

SLRN confirms that private affiliate of investor Tang Capital Partners, Concentra Biosciences, has proposed to acquire it for $3 per share in cash, a 38.2% premium to its last closing price

The offer implies an equity value of about $300 million, according to Reuters calculations, plus a "contingent value right"

The investor had a 5.3% stake in SLRN - filing

Earlier this month, SLRN announced an agreement to merge with Alumis ALMS.O in an all-stock transaction

*Alumis said in an emailed statement it remains on track to close the transaction in Q2 2025

SLRN shares have fallen nearly 38% since it reported mid-stage data from its thyroid eye disease drug in early January