Astellas to Acquire Phathom Pharmaceuticals for $177M
Ticker: PHAT · Form: 8-K · Filed: May 24, 2024 · CIK: 1783183
| Field | Detail |
|---|---|
| Company | Phathom Pharmaceuticals, Inc. (PHAT) |
| Form Type | 8-K |
| Filed Date | May 24, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, pharmaceuticals
TL;DR
Astellas is buying Phathom for $177M ($1/share) - deal expected H2 2024.
AI Summary
Phathom Pharmaceuticals, Inc. announced on May 23, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Astellas Pharma Inc. for $1.00 per share in cash, totaling approximately $177 million. This transaction is expected to close in the second half of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by Astellas Pharma Inc. signifies a significant consolidation in the pharmaceutical sector, potentially impacting the development and availability of Phathom's drug candidates.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, and regulatory approvals could delay or prevent the deal from closing.
Key Numbers
- $177 million — Acquisition Value (Total cash to be paid by Astellas Pharma Inc. for Phathom Pharmaceuticals, Inc.)
- $1.00 — Per Share Price (Cash amount each Phathom shareholder will receive per share.)
Key Players & Entities
- Phathom Pharmaceuticals, Inc. (company) — Company filing the report and being acquired
- Astellas Pharma Inc. (company) — Acquiring company
- $1.00 (dollar_amount) — Per share acquisition price
- $177 million (dollar_amount) — Total acquisition value
- May 23, 2024 (date) — Date of the definitive agreement
- second half of 2024 (date) — Expected closing period for the acquisition
FAQ
What is the primary reason for Astellas Pharma Inc. acquiring Phathom Pharmaceuticals, Inc.?
The filing does not explicitly state the primary reason, but it is a definitive agreement for acquisition, implying strategic value in Phathom's assets or pipeline.
What is the expected timeline for the completion of the acquisition?
The acquisition is expected to close in the second half of 2024.
Are there any specific conditions that must be met for the acquisition to be completed?
Yes, the transaction is subject to customary closing conditions.
What is the total value of the acquisition in cash?
The total value of the acquisition is approximately $177 million.
What is the price per share being offered to Phathom Pharmaceuticals, Inc. shareholders?
Shareholders will receive $1.00 per share in cash.
Filing Stats: 778 words · 3 min read · ~3 pages · Grade level 12.2 · Accepted 2024-05-24 16:03:08
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share PHAT The Nasdaq Global Se
Filing Documents
- d810940d8k.htm (8-K) — 30KB
- 0001193125-24-147017.txt ( ) — 153KB
- phat-20240523.xsd (EX-101.SCH) — 3KB
- phat-20240523_lab.xml (EX-101.LAB) — 18KB
- phat-20240523_pre.xml (EX-101.PRE) — 11KB
- d810940d8k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PHATHOM PHARMACEUTICALS, INC. Date: May 24, 2024 By: /s/ Molly Henderson Molly Henderson Chief Financial and Business Officer