BioCryst Pharmaceuticals is ending a plan to merge with Idera Pharmaceuticals and form a single company focused on rare diseases.
Durham, NC-based BioCryst (NASDAQ: BCRX) terminated the merger agreement on Tuesday following a meeting that saw shareholders vote overwhelmingly against the proposal. Of the more than 80 million shares represented in the vote, 50.6 million shares were voted against the deal. Meanwhile, shareholders of Idera, which splits its operations between Exton, PA, and Cambridge, MA, supported the merger in a lopsided vote.
BioCryst and Idera reached their merger agreement in January. The companies framed the tie-up as way… Read more »
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