SBTX shares were trading -0.45% post-market.Inceptiv Law is the legal counsel to ARS. SVB Securities is an exclusive financial advisor and Cooley LLP is the legal counsel to Silverback.The merger agreement has been approved by both the boards.The board will comprise of 10 members, seven from ARS and three from Silverback. Richard Lowenthal will be the CEO and president.The product is anticipated to launch in 2023. The focus will be on the potential regulatory approval and commercialization of the product, Neffy.It is expected to have ~$265M in cash, cash equivalents and marketable securities at the close of the merger, expected in Q4.This page (NASDAQ:SBTX) was last updated on by Staff. This volume of shares sold represents approximately 59.66M in transactions. The combined entity is expected to operate under the name ARS Pharmaceuticals and trade on the Nasdaq Capital Market under the ticker symbol SPRY, subject to shareholders approval. Seattle-based Silverback Therapeutics, a biopharmaceutical company pioneering a new class of immune-modulating ImmunoTAC drug conjugates targeting previously. How much institutional selling is happening at Silverback Therapeutics Institutional investors have sold a total of 6,480,903 shares in the last 24 months.Assuming that SBTX's net cash at the close of the merger is $240M, the company's shareholders are expected to own ~37% of the combined entity, while ARS Pharmaceuticals' shareholders are expected to own ~63%.Silverback Therapeutics ( NASDAQ: SBTX) and ARS Pharmaceuticals have entered into a definitive merger agreement as part of which the latter will merge with Silverback in an all-stock transaction.We look forward to working with you towards a successful resolution of this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. Seattle, Washington 98109 (206) 456-2900 (Name, address, including zip code, and telephone number, including area code, of agent for service) Copies to: Kenneth J. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. (Nasdaq: SBTX) (Silverback), a biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of chronic viral infections, cancer, and other serious diseases, today provided an update on. Odegard and to pursue other employment opportunities. approved the termination of employment of Valerie Odegard, Ph.D., President and Chief Scientific Officer, effective as of Septem(the Transition Date), to extend cash runway and to allow Dr. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. On September 1, 2022, the board of directors of Silverback Therapeutics, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.īy your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Silverback is developing novel, targeted immuno-oncology drugs. Signed pursuant to California Civil Code Section 1633.1, et seq. I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. I certify under penalty of perjury that the foregoing is true and correct.
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