Shares of Centessa Pharmaceuticals plc (CNTA) are climbing about 45 percent on Tuesday morning trading after Eli Lilly and Company announced an agreement to acquire the company for $38.00 in cash per share plus one non-transferrable CVR that entitles the holder to receive up to an aggregate of $9.00, subject to the achievement of milestones.
The company's shares are currently trading at $39.99 on the Nasdaq, up 45.05 percent. The stock opened at $40.03 and has climbed as high as $40.25 so far in today's session. Over the past year, it has traded in a range of $9.60 to $40.25.
Upon acquisition, Centessa's team and capabilities will be integrated with Lilly's global complementary research, clinical, regulatory and commercial capabilities to accelerate the development of orexin portfolio across a broad range of neuroscience indications.
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