Inactive Instrument

Forma Therapeutics Holdings, Inc.

Equities

FMTX

US34633R1041

Biotechnology & Medical Research

Forma Therapeutics Shares Surge on Takeover by Novo Nordisk

September 01, 2022 at 10:05 am EDT

By Colin Kellaher

Shares of Forma Therapeutics Holdings Inc. took flight Thursday after the clinical-stage biopharmaceutical company agreed to be acquired by Denmark's Novo Nordisk AS for about $1.1 billion.

Novo said it would pay $20 a share in cash for Forma, about 49% above Wednesday's closing price of $13.40 for the Watertown, Mass., company and a more than 90% premium to Forma's 30-day volume-weighted average share price.

The deal is slated to close by the end of the year.

Forma shares were recently changing hands at $19.79, up nearly 48%.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

09-01-22 1004ET

Latest news about Forma Therapeutics Holdings, Inc.

Sector Update: Health Care Stocks Ending with Modest Declines	22-10-14	MT
Sector Update: Health Care Stocks Sliding with Broader Friday Markets	22-10-14	MT
Novo Nordisk Completes Acquisition of Forma Therapeutics; Forma Shares to be Delisted	22-10-14	MT
Novo Nordisk Completes Acquisition of Forma Therapeutics	22-10-14	MT
Forma Therapeutics Holdings, Inc. Announces Board Changes	22-10-14	CI
Forma Therapeutics Holdings, Inc.(NasdaqGM:FMTX) dropped from NASDAQ Composite Index	22-10-14	CI
Forma Therapeutics Holdings, Inc.(NasdaqGM:FMTX) dropped from S&P Global BMI Index	22-10-14	CI
Forma Therapeutics Holdings, Inc.(NasdaqGM:FMTX) dropped from S&P TMI Index	22-10-14	CI
Forma Therapeutics Holdings, Inc.(NasdaqGM:FMTX) dropped from NASDAQ Biotechnology Index	22-10-13	CI
Novo Nordisk A/S (CPSE:NOVO B) completed the acquisition of Forma Therapeutics Holdings, Inc. (NasdaqGM : FMTX) from RA Capital Management, L.P. and others.	22-10-12	CI
Credit Suisse Downgrades Forma Therapeutics Holdings to Neutral from Outperform Following News of Novo Nordisk Acquisition, Lowers Price Target to $20 from $33	22-09-02	MT
HC Wainwright Downgrades Forma Therapeutics Holdings to Neutral From Buy, Adjusts Price Target to $20 From $53	22-09-02	MT
Jefferies Downgrades Forma Therapeutics Holdings to Hold From Buy, Adjusts Price Target to $20 From $28	22-09-02	MT
Cantor Fitzgerald Downgrades Forma Therapeutics to Neutral From Overweight, Trims Price Target to $20 From $23	22-09-01	MT
Top Midday Gainers	22-09-01	MT
Forma Therapeutics Shares Surge on Takeover by Novo Nordisk	22-09-01	DJ
Novo Nordisk to Acquire Forma Therapeutics in $1.1 Billion Deal	22-09-01	MT
Novo Nordisk To Acquire US-based Forma Therapeutics For $1 Billion	22-09-01	MT
Novo Nordisk to Buy Forma Therapeutics for $1.1 Billion	22-09-01	DJ
Novo Nordisk to acquire Forma Therapeutics in $1.1. billion deal	22-09-01	RE
Novo Nordisk to Buy Forma Therapeutics For $20/Share In Cash, FMTX Shares Halted	22-09-01	MT
Novo Nordisk A/S (CPSE:NOVO B) entered into a definitive agreement to acquire Forma Therapeutics Holdings, Inc. from RA Capital Management, L.P. and others for approximately $990 million	22-08-31	CI
Forma Therapeutics Holdings Q2 Net Loss Widens	22-08-05	MT
Transcript : Forma Therapeutics Holdings, Inc., Q2 2022 Earnings Call, Aug 05, 2022	22-08-05
Forma Therapeutics Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022	22-08-05	CI

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Company Profile

Forma Therapeutics Holdings, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for patients with hematologic diseases and cancers. Its pipeline consists of six product candidates. Its product candidates include etavopivat, FT-7051, Olutasidenib- Acute Myeloid Leukemia IDH1m inhibitor, and Olutasidenib Glioma IDH1m inhibitor. Its lead product candidate, etavopivat, is an oral, once-daily, potentially disease-modifying therapy for the treatment of sickle cell disease (SCD), and other hemoglobinopathies. Its product candidate, FT-7051, is an inhibitor of CREB-binding protein/E1A binding protein p300, or CBP/p300 for the treatment of metastatic castration-resistant prostate cancer (mCRPC). Olutasidenib is an oral, selective small molecule investigational agent designed to selectively bind to and inhibit mutated IDH1 enzymes.

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