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Investing.com - H.C. Wainwright has reiterated its Buy rating and $3.00 price target on Barinthus Biotherapeutics (NASDAQ:BRNS) following the company’s merger announcement with Clywedog Therapeutics. According to InvestingPro data, analysts’ price targets range from $3.00 to $6.00, suggesting significant upside potential from current levels.
On Tuesday, Barinthus Biotherapeutics and privately-held Clywedog Therapeutics announced they have entered into a definitive all-stock merger agreement. The combined entity will operate as Clywedog Therapeutics and trade on NASDAQ under the ticker symbol CLYD.
Under the agreement terms, Barinthus shareholders will receive one share of CLYD common stock for each ADS or ordinary share owned, resulting in approximately 34% ownership of the combined company. The transaction is expected to close in the first half of 2026.
The merged company will be funded by existing cash and additional investments from OrbiMed and Torrey Pines Investment, providing an estimated cash runway through the end of 2027. Barinthus CEO Bill Enright will serve as Chief Executive Officer of the combined entity.
The combined company’s portfolio will include three assets targeting metabolic and autoimmune diseases: CLY-101 for Type 2 and Type 1 diabetes, CLY-201 for Type 1 diabetes, and VTP-1000 for celiac disease.
In other recent news, Barinthus Biotherapeutics and Clywedog Therapeutics have announced a definitive merger agreement. The two companies will combine in an all-stock transaction. This merger will result in a new entity, which will continue under the name Clywedog Therapeutics. The company is expected to trade on the NASDAQ under the ticker symbol "CLYD" once the transaction is finalized. The merger is anticipated to close in the first half of 2026. This development marks a significant step for both companies as they focus on metabolic and autoimmune diseases. Investors will be watching closely as the merger progresses toward completion.
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