Sobi completes acquisition of CTI BioPharma Corp.
- Sobi has successfully acquired CTI for USD 1.7 billion, which could positively impact Sobi's stock price in the future.
- None.
Following the completion of Sobi's successful tender offer to purchase all outstanding shares of common stock of CTI for
At the effective time of the merger, and subject to any perfected appraisal rights, all of the remaining shares of common stock of CTI not purchased in the tender offer were converted into the right to receive the same
Forward-looking statements
This press release may contain forward-looking statements by Sobi that involve risks and uncertainties and reflect Sobi's judgment as of the date of this press release. These forward-looking statements generally are identified by words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual events or results may differ from Sobi's expectations due to risks and uncertainties inherent in Sobi's business, including, without limitation: litigation relating to the transaction; risks that the transaction disrupts the current plans and operations of Sobi or CTI; the ability of CTI to retain key personnel; competitive responses to the transaction; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to business relationships resulting from the announcement of the transaction; Sobi's ability to achieve the growth prospects and synergies expected from the transaction, as well as delays, challenges and expenses associated with integrating CTI with its existing businesses; legislative, regulatory and economic developments; and other risks described in Sobi's prior press releases. These forward-looking statements are made only as of the date hereof and Sobi disclaims any intent or obligation to update these forward looking statements after the date hereof, except as required by law.
About CTI BioPharma Corp.
CTI is a commercial biopharmaceutical company focused on the development and commercialization of novel targeted therapies for blood-related cancers that offer a unique benefit to patients and their healthcare providers. CTI has one FDA-approved product, VONJO® (pacritinib), a JAK2, ACVR1, and IRAK1 inhibitor, that spares JAK1. CTI is based in
Sobi
Sobi® is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology and specialty care, Sobi has approximately 1,600 employees across
and YouTube.
Contacts
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Sobi completes acquisition of CTI BioPharma Corp |
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SOURCE Swedish Orphan Biovitrum AB
FAQ
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What will happen to CTI's common stock?
How did Sobi acquire CTI?
