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Ligand buys Neurogen for stock plus contingent value rights

Executive Summary

Drug discovery player Ligand Pharmaceuticals is issuing stock to acquire publicly held Neurogen (small-molecule CNS drug candidates), which is also entitled to contingent value rights (CVRs). Based on ten-day stock average prior to deal announcement, the transaction is valued at $11.7mm, plus at least $7mm in potential earn-outs.
Deal Industry
  • Biotechnology
    • Drug Discovery Tools
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Intra-Biotech Deal
    • Includes Contract
    • Payment Includes Stock
    • Full Acquisition
    • Includes Earnout

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