Intel stock extends gains after report of possible U.S. government stake
PHILADELPHIA - Medicus Pharma Ltd. (NASDAQ: MDCX), a biotech company with a market capitalization of $46.32 million and impressive year-to-date returns of over 62%, announced its intention to acquire Antev Ltd., a UK-based late clinical-stage drug developer. According to InvestingPro data, the company’s stock has shown strong momentum in recent months. The transaction will see Antev shareholders receive approximately 19% equity in Medicus, alongside up to US$65 million in contingent payments related to future FDA approvals.
The binding letter of intent, dated April 26, 2025, outlines the share exchange agreement, with Medicus set to acquire all issued and outstanding shares of Antev. The deal is contingent on due diligence, definitive agreements, and regulatory approvals, with an expected closure before the end of June 2025. Analysts tracking the company maintain a strong buy consensus, with price targets ranging from $5.61 to $14 per share.
Antev is currently developing Teverelix, a GnRH antagonist for treating high cardiovascular risk prostate cancer and preventing acute urinary retention (AUR) recurrence. Teverelix is positioned as a first-in-market product, with potential market opportunities estimated at approximately $6 billion.
The agreement includes a staggered lock-up of the consideration shares for nine months and certain voting rights for Medicus management for 36 months. Antev shareholders could receive additional contingent consideration tied to specific regulatory milestones.
Dr. Raza Bokhari, Executive Chairman & CEO of Medicus, highlighted Teverelix’s potential to become a leading product in its therapeutic area. Antev’s drug candidate has completed various clinical phases, with the FDA approving phase 2b study designs for both AUR and advanced prostate cancer indications.
This acquisition is expected to expand Medicus’s portfolio in the biotech space, adding strategic depth to its drug development program. The transaction is based on a press release statement and remains subject to the successful negotiation and execution of a definitive agreement. No assurances have been made that the proposed transaction will be completed as currently contemplated. InvestingPro analysis shows Medicus maintains a "GREAT" financial health score of 3.63, suggesting strong fundamentals to support this strategic move. Subscribers can access additional insights and 3 more exclusive ProTips about MDCX’s financial position.
In other recent news, Medicus Pharma Ltd. has expanded its phase 2 clinical trial for a non-invasive basal cell carcinoma treatment, increasing patient enrollment from sixty to ninety across the United States and Europe. This expansion follows an interim analysis showing over 60% of participants achieving complete clinical clearance of BCC. Additionally, Medicus Pharma has secured a $15 million funding option through a Standby Equity Purchase Agreement with YA II PN, LTD, managed by Yorkville Advisors Global, LP, to support its ongoing projects. The company also announced the voluntary delisting of its shares from the TSX Venture Exchange, focusing its trading activities on Nasdaq. In regulatory developments, Medicus has scheduled its annual and special meeting of shareholders for May 22, 2025, with a record date of April 22, 2025, as disclosed in an SEC filing. The company has also submitted a clinical trial design to the UAE Department of Health for a new study on its BCC treatment, emphasizing its global clinical strategy. These developments reflect Medicus Pharma’s ongoing efforts to advance its skin cancer treatment and strategic focus on international markets.
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