25.02.2019, 22:25
Here' Why Clementia Pharmaceuticals Rocketed Higher Today
What happened
Shares of Clementia Pharmaceuticals (NASDAQ: CMTA) are up 74% at 11:55 a.m. EST because the Canadian biotech is being bought by the French drugmaker Ipsen for $25 per share. The deal also includes a contingent value right (CVR) that could garner investors another $6 per share.
So what
With just one drug in clinical development, Clementia looks like a prototypical biotech that was built to eventually be acquired. The company is developing a drug that stimulates the retinoic acid receptor gamma called palovarotene, which it's testing as a treatment for two rare bone disorders called fibrodysplasia ossificans progressiva (FOP) and multiple osteochondromas (MO), as well as other diseases.
In the second half of this year, the company plans to file for FDA approval for the occasional treatment of FOP when it flares up, setting up a potential approval next year. It's also testing the drug for chronic dosing for FOP in a late-stage study.
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https://www.fool.com/investing/2019/02/2...highe.aspx
![[Bild: CMTAc1dl1523.png]](https://finviz.com/publish/022519/CMTAc1dl1523.png)
What happened
Shares of Clementia Pharmaceuticals (NASDAQ: CMTA) are up 74% at 11:55 a.m. EST because the Canadian biotech is being bought by the French drugmaker Ipsen for $25 per share. The deal also includes a contingent value right (CVR) that could garner investors another $6 per share.
So what
With just one drug in clinical development, Clementia looks like a prototypical biotech that was built to eventually be acquired. The company is developing a drug that stimulates the retinoic acid receptor gamma called palovarotene, which it's testing as a treatment for two rare bone disorders called fibrodysplasia ossificans progressiva (FOP) and multiple osteochondromas (MO), as well as other diseases.
In the second half of this year, the company plans to file for FDA approval for the occasional treatment of FOP when it flares up, setting up a potential approval next year. It's also testing the drug for chronic dosing for FOP in a late-stage study.
....
https://www.fool.com/investing/2019/02/2...highe.aspx