Home Trending Stocks MorphoSys Inc. (MOR) stock fell during pre-market trading. Here’s the recent update

MorphoSys Inc. (MOR) stock fell during pre-market trading. Here’s the recent update

MorphoSys Inc. (NASDAQ: MOR) stock declined by 1.74% at last close while the MOR stock price plunged by 6.62% in the pre-market trading session. MorphoSys is a commercial-stage pharmaceutical business focused on the research, development, and commercialization of novel treatments for cancer and autoimmune disorders patients.

>> 7 Top Picks for the Post-Pandemic Economy << 

What is happening?

MorphoSys has completed its previously reported cash tender offer for all outstanding shares of Constellation Pharmaceuticals for $34.00 per share, net to the seller in cash, without interest, and pursuant to any statutory withholding of taxes. On July 14, 2021, one minute after 11:59 p.m. New York City Time, the tender offer ended.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Read More

In the tender offer, approximately 42,811,957 shares of Constellation were properly tendered and not lawfully withdrawn, representing roughly 89 percent of MOR’s outstanding shares at the time of the tender offer’s expiration. All legally tendered and not legitimately withdrawn shares have been accepted for payment in line with the provisions of the merger agreement between Constellation, MorphoSys, and MorphoSys Development Inc. MorphoSys will quickly complete its purchase of Constellation by merging MorphoSys Development Inc. with and into Constellation in a second stage, resulting in Constellation continuing to exist as an indirect fully owned subsidiary of MorphoSys.

The merger is anticipated to be completed today, before the opening of trading on the NASDAQ market in the United States, and Constellation shares will be delisted from the NASDAQ Global Select Market. The transaction’s overall stock value is estimated to be around $1.7 billion.

Furthermore,

MorphoSys has entered into a long-term strategic financial relationship with Royalty Pharma in conjunction with the completion of its acquisition of Constellation. Royalty Pharma has paid an upfront fee of $1.425 billion to MorphoSys, as previously disclosed, to assist the financing of the acquisition with Constellation and the creation of the combined portfolio. MorphoSys will also have full rights to up to $350 million in Development Funding Bonds from Royalty Pharma, with the ability to draw over a one-year period, and Royalty Pharma will make additional payments to MorphoSys of up to $150 million if clinical, regulatory, and commercial benchmarks for otilimab, gantenerumab, and pelabresib are met.

>> 7 Top Picks for the Post-Pandemic Economy << 

Royalty Pharma will be entitled to 100% of MorphoSys’ royalties on Tremfya net sales, as well as 80% of future royalties and 100% of future milestone payments on otilimab, 60% of future royalties on gantenerumab, and 3% on future net sales of Constellation’s clinical stage assets (pelabresib and CPI-0209). Following the conclusion of MorphoSys’ purchase of Constellation, Royalty Pharma will invest $100 million in a MorphoSys cash capital raise under an authorization to exclude current shareholders’ subscription rights. MorphoSys will list its new shares on the Frankfurt Stock Exchange.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

SPX Flow Inc. (FLOW) stock surged during current market. Here’s why the stock is sky-rocketing?

SPX Flow Inc. (NASDAQ: FLOW) stock gained by 24.24% in the current market trading session. SPX FLOW, based in Charlotte, works to make the...

Platinum Group Metal Ltd. (PLG) stock surges during after-market trading. Here’s to know what’s happening?

Platinum Group Metal Ltd. (NASDAQ: PLG) stock declined by 8.54% at last close whereas the PLG stock price gains by 7% in the after-market...

TD Holdings Inc. (GLG) stock gains during current market trading. Here’s the recent update

TD Holdings Inc. (NASDAQ: GLG) stock gains by 5.01% in the current market trading session. TD Holdings, Inc. is a service provider in China...

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

NeuroMetrix Inc. (NURO) stock plunged during pre-market. Let’s find out why?

NeuroMetrix Inc. (NASDAQ: NURO) stock gained by 18.89% at last close while the NURO stock price losses by -4.12% in the pre-market trading session....

Related News

Palatin Technologies Inc. (PTN) stock rises during pre-market trading. What has been happening lately?

Palatin Technologies Inc. (NASDAQ: PTN) stock declined by 1.16% the last close whereas the PTN stock price gains by 3.91% in the pre-market trading...

Smith Micro Develops Inc. (SMSI) stock soars during current market trading. Here’s to know why?

Smith Micro Develops Inc. (NASDAQ: SMSI) stock surged by 2.39% during the current market trading session. Smith Micro creates software that simplifies and improves...

Drive Shack Inc. (DS) stock soars during after-hour trading, followed by no recent update

Drive Shack Inc. (NASDAQ: DS) stock declined by 3.94% at last close while the DS stock-price surged by 7.38% in the after-hour session. Drive...

SPX Flow Inc. (FLOW) stock surged during current market. Here’s why the stock is sky-rocketing?

SPX Flow Inc. (NASDAQ: FLOW) stock gained by 24.24% in the current market trading session. SPX FLOW, based in Charlotte, works to make the...

Platinum Group Metal Ltd. (PLG) stock surges during after-market trading. Here’s to know what’s happening?

Platinum Group Metal Ltd. (NASDAQ: PLG) stock declined by 8.54% at last close whereas the PLG stock price gains by 7% in the after-market...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam