Elevation Oncology Enters into Agreement to Be Acquired by Concentra Biosciences
Concentra Found another Zombie biotech.
Please read the SEC documents regarding this current security and understand that I do own of these shares. This isn’t an offer or solicitation to buy shares.
Concentra’s Attorney: Lady, He’s putting my kids through college.
The definitive merger agreement was announced on June 9, 2025.
Deal Terms:
Cash Payment: Shareholders will receive $0.36 per share in cash.
CVR: Shareholders will also receive one non-tradeable CVR per share. This CVR entitles them to 80% of the net proceeds from any future disposition of its key oncology asset, EO-1022, within 5 years. It also includes all net cash at closing over $26.4 million.
from this press release: https://investors.elevationoncology.com/2025-05-15-Elevation-Oncology-Reports-First-Quarter-2025-Financial-Results-and-Provides-Business-Updates
“Elevation Oncology ended the first quarter of 2025 with $80.7 million in cash, cash equivalents and marketable securities. Subsequent to the first quarter, on May 2, 2025, Elevation Oncology voluntarily prepaid the $32.3 million aggregate principal, interest, fees and expenses due under its loan agreement with K2 HealthVentures LLC. Elevation Oncology expects that a significant majority of expenses incurred in relation to its workforce reduction and EO-3021 program closure will be paid in the second quarter of 2025.
Elevation Oncology estimates that it will have cash, cash equivalents and marketable securities in a range of approximately $30 million to $35 million as of June 30, 2025, which is expected to fund its current operations into the second half of 2026.”
Stock currently at $0.37.
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Expiration 7/22/2025