Here are three takeover targets for the week –
BridgeBio Pharma, Inc. – SYM: BBIO
Recent Price: $17.23
Takeover Action: According to Bloomberg, BridgeBio Pharma (BBIO) which develops treatments for genetic diseases, is attracting takeover interest from bigger drug companies.
Description: BridgeBio Pharma, Inc. engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development.
Quince Therapeutics, Inc. – SYM: QNCX
Recent Price: $1.55
Takeover Action: Echo Lake Capital offers to acquire Quince Therapeutics (QNCX) for $1.60 per share in cash.
Description: Quince Therapeutics, Inc., a biopharmaceutical company, focuses on advancing precision therapeutics for debilitating and rare diseases. The company has discovered a broad bone-targeting drug platform to precisely deliver small molecules, peptides, or large molecules directly to the site of bone fracture and disease. Its lead compound is NOV004, an anabolic peptide engineered to precisely target and concentrate at the bone fracture site The company was formerly known as Cortexyme, Inc. and changed its name to Quince Therapeutics, Inc. in August 2022. Quince Therapeutics, Inc. was incorporated in 2012 and is headquartered in South San Francisco, California.
Orthofix Medical Inc. – SYM: OFIX
Recent Price: $15.93
Takeover Action: According to 8-K filing, Orthofix Medical (OFIX) disclosed it received an unsolicited takeover interest from two private equity firms for $23 per share in cash.
Description: Orthofix Medical Inc. operates spine and orthopedics company in the United States, Italy, Germany, France, the United Kingdom, Brazil, and internationally. It operates through Global Spine and Global Orthopedics segments. The Global Spine segment comprises the bone growth therapies products, which manufactures and distributes bone growth stimulator devices for enhance of bone fusion including adjunctive and noninvasive treatment of cervical and lumbar spine as well as a therapeutic treatment for non-spine; the spinal implants products designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and the biological products, such as regenerative products and tissue forms which allow physicians to treat a variety of spinal and orthopedic conditions. Global Orthopedics segment offers products and solutions that allow physicians to treat a variety of orthopedic conditions unrelated to the spine, which design, develop, and market the orthopedic products used in fracture repair, deformity correction, and bone reconstruction procedures. It sells its products through distributors, sales representatives, hospitals, and healthcare providers. The company was formerly known as Orthofix International N.V. and changed its name to Orthofix Medical Inc. in 2018. Orthofix Medical Inc. was founded in 1987 and is headquartered in Lewisville, Texas.