Home Equities Score What Has Been Pushing Intec Pharma (NTEC) Stock Up 27% Today?

What Has Been Pushing Intec Pharma (NTEC) Stock Up 27% Today?

Stock of Intec Pharma Ltd (NASDAQ: NTEC) rose 26.91% from the previous closing price in today’s trading session. In the trade so far, the lowest point reached by an NTEC stock was $5.70, while the highest price hit was $7.49. During mid of the session, the trading volume of Pharma Ltd stock was observed to be 9.32 million, which was much higher than the average daily trading volume of 765K. The surge has been coming on the heels of merger deal news announced in a press released this morning.

What’s in the merger for NTEC?

Based on its proprietary Accordion Pill platform technology, Intec Pharma focuses on clinical-stage biopharmaceutical development. By utilizing efficient gastric retention and specific release mechanism, Accordion Pill of NTEC targets enhancing the efficacy and safety of existing drugs and drugs in development.


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Earlier today, Intec Pharma announced that it has reached an agreement with Decoy Biosystems, Inc. regarding a business combination.

Through the combined company, immunotherapy will be implemented to combat different types of tumors, infections, and viruses. Decoy Biosystem is a small, private biotechnology company developing novel, multi-targeted immunotherapies designed to safely prime adaptive and innate immune responses against tumors and viruses. Prior to filing an IND, Decoy met with FDA representatives to determine an appropriate IND application and plans to conduct Phase I clinical trials in 2022 targeting solid tumors and lymphomas.

In accordance with the merger agreement exchange ratio formula, the former Decoy shareholders are expected to hold approx. 75% of the combined company upon completion of the merger. It does not take into account the effect of the difference between Intec Pharma’s and Decoy’s respective cash and obligations. At fully diluted, Intec Pharma shareholders will own about 25% of the combined company.

Finally,

Intec Pharma (NTEC) will be able to advance its first clinical candidate towards human trials by merging with Decoy. This project will further accelerate the development of the unique immunotherapy platform by NTEC and enable it to become the most advanced immunotherapy platform in the industry that can rapidly develop and implement next-generation antiviral and antitumor treatments.

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