Pardes Biosciences Inc.’s PRDS stock was up 12.4% in premarket trades Monday after the clinical-stage biopharmaceutical company said it agreed to be acquired by MediPacific Inc. for up to $2.19 a share. The purchase price is not less than $2.02 a share in cash and an additional cash amount of not more than 17 cents per share, with the final price per share being based on the amount of the company’s net cash at closing, plus a non-tradeable contingent-value right associated with any future monetization of its COVID-19 antiviral portfolio and related intellectual property. The announcement from Pardes Biosciences did not include any additional information on the company’s buyer, MediPacific.
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