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LOGICBIO THERAPEUTICS, INC.

(LOGC)
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LogicBio Therapeutics Shares Soar on Takeover by AstraZeneca

10/03/2022 | 11:06am EST

By Colin Kellaher


Shares of LogicBio Therapeutics Inc. skyrocketed Monday after the genetic-medicine company agreed to be acquired by Anglo-Swedish pharma giant's AstraZeneca PLC for more than 7.5 times Friday's closing price.

LogicBio investors will receive $2.07 a share in cash in the $68 million deal, well above Friday's closing level of abut 27.3 cents but shy of the stock's 52-week high of $4.54 reached nearly a year ago.

LogicBio shares have fallen over the past year amid setbacks in its program targeting pediatric patients with the genetic metabolic disorder methylmalonic acidemia, including a clinical hold by the U.S. Food and Drug Administration.

LogicBio shares were recently changing hands at $2.02.


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


(END) Dow Jones Newswires

10-03-22 1105ET

Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 0.34% 11354 Delayed Quote.30.84%
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Managers and Directors
Matthias Hebben Vice President & Head-Technology Development
Marie Payton VP-Clinical Development Operations
David E. White Treasurer
Jonathan Quick Vice President-Finance
Janice Olson Senior VP-Strategy & Portfolio Management
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