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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Tue., Apr. 16, 3:32 AM

Slide #78. ARCA biopharma, Inc. Oruka Therapeutics

Acquirer: ARCA biopharma, Inc. (NASDAQ:ABIO)
Acquiree: Oruka Therapeutics
Details: ARCA biopharma, Inc. (NASDAQ: ABIO) ("ARCA"), and Oruka Therapeutics ("Oruka"), a privately held biotechnology company developing novel biologics designed to set a new standard for the treatment of chronic skin diseases, including plaque psoriasis, announced today that they have entered into a definitive agreement to combine the companies in an all-stock transaction. The resulting entity will focus on advancing Oruka's pipeline of potentially best-in-class biologics, including ORKA-001 (an IL-23p19 inhibitor) and ORKA-002 (an IL-17A/F inhibitor). Upon completion of the merger, the combined company plans to operate under the name Oruka Therapeutics, Inc. and trade on Nasdaq under the ticker symbol "ORKA".

ARCA biopharma is a clinical-stage biopharmaceutical company. Co.'s primary product candidates are Recombinant Nematode Anticoagulant Protein c2 (rNAPc2 (AB201)) as a potential treatment for COVID-19, the disease syndrome caused by the SARS-CoV-2 virus, and potentially other viral diseases and Gencaro™ (bucindolol hydrochloride) for the treatment of atrial fibrillation in patients with chronic heart failure. rNAPc2 targets COVID-19 patients with biomarker evidence of coagulopathy, while Gencaro is being developed for patients who have a genotype that identifies a drug target associated with heightened efficacy.

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Company Name:  ARCA biopharma Inc
Website:  www.arcabiopharma.com
Sector:  Biotechnology
Number of ETFs Holding ABIO:  2
Total Market Value Held by ETFs:  $1.45M
Total Market Capitalization:  $47.00M
% of Market Cap. Held by ETFs:  3.09%
 

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April 16, 2024    3:32 AM Eastern
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