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Thursday, June 30, 2022

Kadmon [NASDAQ: KDMN] to be Acquired by Sanofi

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Kadmon Holdings, Inc. [NASDAQ: KDMN] disclosed that it has inked a definitive agreement with Sanofi [NASDAQ: SNY]. As per the agreement, Kadmon Holdings will be purchased by Sanofi. The purchase will promote the strategy of Sanofi to continue to increase its General Medicines core assets and will instantly add Rezurock to its transplant portfolio.

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Presently, Rezurock is an FDA-authorized, first-in-class cure for chronic graft-versus-host disease (cGVHD) for adult and pediatric sufferers 12 years and older who have failed at least two prior lines of systemic therapy. Rezurock was unveiled in August in the US. It is the first and only authorized small molecule therapy that prevents the Rho-associated coiled-coil kinase 2 (ROCK2).

Shares of Kadmon Holdings, Inc. [NASDAQ: KDMN] surged 72.55% as the firm has gained +3.85 at the time of writing on Wednesday. In the past 52-weeks of a trading session, the share of the firm oscillated between the 52-week low and high range of $3.14 and $5.73, respectively. Kadmon Holdings has a total market capitalization of $944.88 million at the time of writing.

Transaction Details

It has been disclosed that as per the agreement shareholders of Kadmon common stock will get $9.50 per share in cash. It signifies a total equity value of nearly $1.9 billion on a fully diluted basis. Moreover, the Sanofi and Kadmon Boards of Directors unanimously authorized the transaction.

Furthermore, the offer price signifies a premium of 79% over the closing price on September 7, 2021. It also represents a premium of nearly 113% more than 60 trading days volume-weighted average price. Additionally, the transaction is anticipated to be fairly dilutive to Sanofi’s EPS in 2022.

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